Majka Company was started on January 1, Year 1. During Year 1, the company experienced...
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Accounting
Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following accounting events: (1) Issued 52,800 worth of common stock (2) earned cash revenues of $34,600, (3) paid cash expenses of $15,200, and (4) paid a $3,500 cash dividend to its stockholders. These were the only events that affected the company during Year 1.
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Record the effects of each accounting event under the appropriate general ledger account headings. (Enter any decreases to account balances with a minus sign.) Prepare an income statement dated December 31, Year 1, for Majka Company
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