Required information 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 % % %

Required information 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 % % %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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