Homework Answers
| Part1 | Stockhoder's equity | |||
| Event | Asset | liabilities | common stock | retained earnings |
| Cash | ||||
| 1 | 32800 | 0 | 0 | 32800 |
| 2 | -14600 | 0 | 0 | -14600 |
| 3 | -2900 | 0 | 0 | -2900 |
| Ending balance | 15300 | 15300 | ||
| Part 2 | ||||
| Income statement | ||||
| Revenue | 32800 | |||
| less: expenses | 14600 | |||
| Net income | 18200 | |||
| Less dividend | 2900 | |||
| Retained earnings | 15300 | |||
| Part 3 | ||||
| Statement in changes in stockholder's equity | ||||
| Beginning retained earnings | 0 | |||
| During the year | 15300 | |||
| Ending retained earnings | 15300 | |||
| Total | 15300 | |||
| Part 4 | ||||
| Assets | ||||
| Cash | 15300 | |||
| Total assets | 15300 | |||
| Stockholder's equity | ||||
| Common stock | ||||
| Retained earnings | 15300 | |||
| Total liabilities and stockholder' equity | 15300 | |||
common stock and other information has not been given hence they have been left blank
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Mijka Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events: (1) earned cash revenues of $33,100, (2) paid cash expenses of $14,700, and (3) paid a $3,000 cash dividend to its stockholders. These were the only events that affected the company during 2018, Required a. Record the effects of each accounting event under the appropriate general ledger account headings. b. Prepare an income statement, statement of changes in stockholders' equity, and a...
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Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of...
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I need all the sheets for this problem
Mjka Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events (1) earned cash revenues of $29,800.(2) paid cash expenses of $13,600, and (3) paid a $1,900 cash dividend to its stockholders. These were the only events that affected the company during 2018 Required a. Record the effects of each accounting event under the appropriate general ledger account headings b. Prepare an income statement, statement...
Majka Company was started on January 1, Year 1. During Year 1,
the company experienced the following three accounting events: (1)
earned cash revenues of $33,700, (2) paid cash expenses of $14,900,
and (3) paid a $3,200 cash dividend to its stockholders. These were
the only events that affected the company during Year 1
Required
a. Record the effects of each accounting event
under the appropriate general ledger account headings.
b. Prepare an income statement, statement of
changes in stockholders’...
Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues of $33,700, (2) paid cash expenses of $14,900, and (3) paid a $3,200 cash dividend to its stockholders. These were the only events that affected the company during Year 1. Required a. Record the effects of each accounting event under the appropriate general ledger account headings. b. Prepare an income statement, statement of changes in stockholders'...
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of common stock. 2 Pald $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $36.000 cash. 5. Pald $1,000 cash for utilities expense. 6. Paid $28.000 cash for other operating expenses. 7. Pald a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27.500. Required a. The January 1,...
Dakota Company experienced the following events during 2018: 1. Acquired $15,000 cash from the issue of common stock. 2. Paid $15.000 cash to purchase land. 3. Borrowed $5,000 cash. 4. Provided services for $55,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $45.000 cash for other operating expenses. 7. Paid a $1.000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $16,000. Required a. The January 1,...
Dakota Company experienced the following events during 2018: 1. Acquired $25.000 cash from the issue of common stock. 2 Pald $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $36.000 cash. 5. Pald $1,000 cash for utilities expense. 6. Paid $28.000 cash for other operating expenses. 7. Pald a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27.500. Required a. The January 1,...
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