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. E1-15 Mika Company was started on January 1, 2018. During 2018, the company experienced...

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Accounting

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. E1-15 Mika Company was started on January 1, 2018. During 2018, the company experienced the following three accounting events (1) eamed cash revenues of $28,600 (2) paid cash expenses of $13,200, and (3) paid a $1.500 cash dividend to its stockholders. These were the only events that affected the company during 2018 Required: a. Create an accounting equation and 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, 2018 for Mika Company c. Explain why the income statement uses different terminology to date the income statement than is used to date the balance sheet. + Assets Cash Mika Company Accounting Equation for 2014 Liabilities Stackholders'Equity Common Stock Retained Earnings No change - + + Increase 1. Cash revenues 2. Paid expenses 3. Paid dividend Ending Balance [b] Maka Company Income Statement For the Year Ended December 31, 2018 Mia Company Statement of Changes in Stockholders Equity For the Year Ended December 31, 2018 Milka Company Balance Sheet As of December 31, 2015 Ich arch C 0

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