Question: Exercise 1-15A (Algo) Preparing an income statement and a balance sheet LO 1-7 Mijka Company was started on January 1, Year 1. During Year 1,
Exercise 1-15A (Algo) Preparing an income statement and a balance sheet LO 1-7 Mijka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1) earned cash revenues of $31,600, (2) paid cash expenses of $14,200, and (3) paid a $2,500 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' equity, and a balance sheet dated December 31 , Year 1, for Mijka Company. Complete this question by entering your answers in the tabs below. Record the effects of each accounting event under the appropriate general ledger account headings, (Enter any decreases to account balances with a minus sign. Not all celis require input.)
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