Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following accounting events: (1) Issued 50,700 worth of common stock (2) earned cash revenues of $31,900, (3) paid cash expenses of $14,300, and (4) paid a $2,600 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 Majka 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.)
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