Problem 1-33A (Algo) Interrelationships among financial statements LO 1-5, 1-7, 1-8 [The following information applies to the questions displayed below.] Pratt Corporation started the Year 2 accounting period with total assets of $29,000 cash, $11,500 of liabilities, and $14,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $15,550. The bookkeeper reported that Pratt paid cash expenses of $30,500 and paid a $2,900 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that Pratt received for performing services. Pratt also paid $4,000 cash to reduce the liability owed to a bank, and the business acquired $6,300 of additional cash from the issue of common stock. Assume all transactions are cash transactions. Problem 1-33A (Algo) Part e e. Determine the percentage of total assets that were provided by creditors, investors, and earnings. (Round answers to 2 decimal places.) Creditors Investors Total Assets % %
Problem 1-33A (Algo) Interrelationships among financial statements LO 1-5, 1-7, 1-8 [The following information applies to the questions displayed below.] Pratt Corporation started the Year 2 accounting period with total assets of $29,000 cash, $11,500 of liabilities, and $14,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $15,550. The bookkeeper reported that Pratt paid cash expenses of $30,500 and paid a $2,900 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that Pratt received for performing services. Pratt also paid $4,000 cash to reduce the liability owed to a bank, and the business acquired $6,300 of additional cash from the issue of common stock. Assume all transactions are cash transactions. Problem 1-33A (Algo) Part e e. Determine the percentage of total assets that were provided by creditors, investors, and earnings. (Round answers to 2 decimal places.) Creditors Investors Total Assets % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: accounting
![Problem 1-33A (Algo) Interrelationships among financial statements LO 1-5, 1-7, 1-8
[The following information applies to the questions displayed below.]
Pratt Corporation started the Year 2 accounting period with total assets of $29,000 cash, $11,500
of liabilities, and $14,000 of retained earnings. During the Year 2 accounting period, the Retained
Earnings account increased by $15,550. The bookkeeper reported that Pratt paid cash expenses
of $30,500 and paid a $2,900 cash dividend to stockholders, but she could not find a record of
the amount of cash revenue that Pratt received for performing services. Pratt also paid $4,000
cash to reduce the liability owed to a bank, and the business acquired $6,300 of additional cash
from the issue of common stock. Assume all transactions are cash transactions.
Problem 1-33A (Algo) Part e
e. Determine the percentage of total assets that were provided by creditors, investors, and earnings. (Round your
answers to 2 decimal places.)
Creditors
Investors
Earnings
Total Assets
%
%
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0eb03798-68ea-49c2-9fab-df3324894e0a%2F4f8cff55-83f8-452e-9db1-d9993408b067%2Foqfsbfq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 1-33A (Algo) Interrelationships among financial statements LO 1-5, 1-7, 1-8
[The following information applies to the questions displayed below.]
Pratt Corporation started the Year 2 accounting period with total assets of $29,000 cash, $11,500
of liabilities, and $14,000 of retained earnings. During the Year 2 accounting period, the Retained
Earnings account increased by $15,550. The bookkeeper reported that Pratt paid cash expenses
of $30,500 and paid a $2,900 cash dividend to stockholders, but she could not find a record of
the amount of cash revenue that Pratt received for performing services. Pratt also paid $4,000
cash to reduce the liability owed to a bank, and the business acquired $6,300 of additional cash
from the issue of common stock. Assume all transactions are cash transactions.
Problem 1-33A (Algo) Part e
e. Determine the percentage of total assets that were provided by creditors, investors, and earnings. (Round your
answers to 2 decimal places.)
Creditors
Investors
Earnings
Total Assets
%
%
%
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