Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received...
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Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Pald the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Revenue Expenses Req B3 Prepare the income statement for the Year 1 accounting period. MILIA, INCORPORATED Income Statement For the Year Ended December 31, Year 1 Salaries expense Utility expense Req B2 Total expenses Net income Req B4 $ 2 Part 2 of 2 1.67 points eBook Print References ! Required Information [The following information applies to the questions displayed below.] Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. Beginning common stock Plus: Common stock issued Req B3 MILIA, INCORPORATED Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Ending common stock Beginning retained earnings Plus: Net income Less: Dividends Req B4 Ending retained earnings Total stockholders' equity < Req B1 $ $ 0 0 0 Req B3 > 2 Part 2 of 2 1.67 points eBook P Print n References Required Information [The following information applies to the questions displayed below.] Milea Incorporated experienced the following events in Year 1, Its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Pald the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Assets Cash Accounts receivable Total assets Liabilities Prepare the balance sheet for the Year 1 accounting period. MILIA, INCORPORATED Balance Sheet As of December 31, Year 1 Salaries payable Req B3 Total liabilities Stockholders' Equity Common stock Retained earnings Req B4 Total stockholders' equity Total liabilities and stockholders' equity < Req B2 S S $ 0 0 0 0 Req B4 > 2 Part 2 of 2 1.67 points eBook C Print G References Required Information [The following Information applies to the questions displayed below] Milea Incorporated experienced the following events in Year 1, Its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Pald the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Pald a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Req 82 Req B3 Prepare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.) MILIA, INCORPORATED Statement of Cash Flows Cash flow from operating activities For the Year Ended December 31, Year 1 Net cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Req B4 Net cash flow from financing activities Net change in cash Ending cash balance < Reg B3 S S 0 0 0 0 Reg B4 > Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Pald the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Revenue Expenses Req B3 Prepare the income statement for the Year 1 accounting period. MILIA, INCORPORATED Income Statement For the Year Ended December 31, Year 1 Salaries expense Utility expense Req B2 Total expenses Net income Req B4 $ 2 Part 2 of 2 1.67 points eBook Print References ! Required Information [The following information applies to the questions displayed below.] Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. Beginning common stock Plus: Common stock issued Req B3 MILIA, INCORPORATED Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Ending common stock Beginning retained earnings Plus: Net income Less: Dividends Req B4 Ending retained earnings Total stockholders' equity < Req B1 $ $ 0 0 0 Req B3 > 2 Part 2 of 2 1.67 points eBook P Print n References Required Information [The following information applies to the questions displayed below.] Milea Incorporated experienced the following events in Year 1, Its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Pald the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Assets Cash Accounts receivable Total assets Liabilities Prepare the balance sheet for the Year 1 accounting period. MILIA, INCORPORATED Balance Sheet As of December 31, Year 1 Salaries payable Req B3 Total liabilities Stockholders' Equity Common stock Retained earnings Req B4 Total stockholders' equity Total liabilities and stockholders' equity < Req B2 S S $ 0 0 0 0 Req B4 > 2 Part 2 of 2 1.67 points eBook C Print G References Required Information [The following Information applies to the questions displayed below] Milea Incorporated experienced the following events in Year 1, Its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Pald the utility expense of $1,300. 4. Collected $33,720 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Pald a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Req 82 Req B3 Prepare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.) MILIA, INCORPORATED Statement of Cash Flows Cash flow from operating activities For the Year Ended December 31, Year 1 Net cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Req B4 Net cash flow from financing activities Net change in cash Ending cash balance < Reg B3 S S 0 0 0 0 Reg B4 >
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