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i Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $31,000 cash from the issue of common stock. 2. Borrowed $39,000 cash from National Bank. 3. Earned cash revenues of $49,000 for performing services. 4. Paid cash expenses of $45,500. 5. Paid a $1,100 cash dividend to the stockholders. 6. Acquired an additional $21,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $54,000 cash to purchase land. 9. Determined that the market value of the land is $76,000. Problem 2-20A (Algo) Part f f. Determine the percentage of assets that were provided by investors, creditors, and earnings. Note: Round your answers to 2 decimal places. Investors Creditors Earnings Assets 63.53 % % %

i Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $31,000 cash from the issue of common stock. 2. Borrowed $39,000 cash from National Bank. 3. Earned cash revenues of $49,000 for performing services. 4. Paid cash expenses of $45,500. 5. Paid a $1,100 cash dividend to the stockholders. 6. Acquired an additional $21,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $54,000 cash to purchase land. 9. Determined that the market value of the land is $76,000. Problem 2-20A (Algo) Part f f. Determine the percentage of assets that were provided by investors, creditors, and earnings. Note: Round your answers to 2 decimal places. Investors Creditors Earnings Assets 63.53 % % %

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 6PB: Single-step income Statement and balance sheet Selected accounts and related amounts for Kanpur Co....
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i Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $31,000 cash from the issue of common stock. 2. Borrowed $39,000 cash from National Bank. 3. Earned cash revenues of $49,000 for performing services. 4. Paid cash expenses of $45,500. 5. Paid a $1,100 cash dividend to the stockholders. 6. Acquired an additional $21,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $54,000 cash to purchase land. 9. Determined that the market value of the land is $76,000. Problem 2-20A (Algo) Part f f. Determine the percentage of assets that were provided by investors, creditors, and earnings. Note: Round your answers to 2 decimal places. Investors Creditors Earnings Assets 63.53 % % %
Transcribed Image Text:i Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $31,000 cash from the issue of common stock. 2. Borrowed $39,000 cash from National Bank. 3. Earned cash revenues of $49,000 for performing services. 4. Paid cash expenses of $45,500. 5. Paid a $1,100 cash dividend to the stockholders. 6. Acquired an additional $21,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $54,000 cash to purchase land. 9. Determined that the market value of the land is $76,000. Problem 2-20A (Algo) Part f f. Determine the percentage of assets that were provided by investors, creditors, and earnings. Note: Round your answers to 2 decimal places. Investors Creditors Earnings Assets 63.53 % % %
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