Business, 19.02.2021 16:20, Lovebamagirl12

Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $15,000 cash from the issue of common stock.
2. Performed services on account for $45,000.
3. Paid the utility expense of $1,250.
4. Collected $38,090 of the accounts receivable.
5. Recorded $8,050 of accrued salaries at the end of the year.
6. Paid a $1,100 cash dividend to the stockholders.

Required:
Prepare the income statement, statement of changes in stockholders' equity, balance sheet and statement cash lows for the 2018 accounting period.

Answers: 2

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Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received...