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[The following information applies to the questions displayed below.] The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable $ 54,000 31,800 102,400 86,000 138,500 0 145,700 11,000 30,400 18,100 32,600

[The following information applies to the questions displayed below.] The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable $ 54,000 31,800 102,400 86,000 138,500 0 145,700 11,000 30,400 18,100 32,600

FINANCIAL ACCOUNTING
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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Req 1A Req 1B What amount of total assets have been financed by the creditors and by the stockholders? Financed by Creditors Financed by Stockholders Show Transcribed Text Req 1A Required: 1-a. What amount of total assets have been financed by the creditors and by the stockholders? 1-b. Did Nice Bite rely more on creditors or stockholders for its financing at December 31, 2021? 1-c. What is your information source? Req 1C Complete this question by entering your answers in the tabs below. Req 1B Show Transcribed Text Req 1A Did Nice Bite rely more on creditors or stockholders for its financing at December 31, 2021? Creditors Stockholders < Req 1A Req 1C Req 1B Req 1B > Required: 1-a. What amount of total assets have been financed by the creditors and by the stockholders? 1-b. Did Nice Bite rely more on creditors or stockholders for its financing at December 31, 2021? 1-c. What is your information source? Req 1C What is your information source? OIncome Statement Ostatement of Retained Earnings OBalance Sheet Statement of Cash Flows < Req 1A Complete this question by entering your answers in the tabs below. Req 1C >
Transcribed Image Text:Req 1A Req 1B What amount of total assets have been financed by the creditors and by the stockholders? Financed by Creditors Financed by Stockholders Show Transcribed Text Req 1A Required: 1-a. What amount of total assets have been financed by the creditors and by the stockholders? 1-b. Did Nice Bite rely more on creditors or stockholders for its financing at December 31, 2021? 1-c. What is your information source? Req 1C Complete this question by entering your answers in the tabs below. Req 1B Show Transcribed Text Req 1A Did Nice Bite rely more on creditors or stockholders for its financing at December 31, 2021? Creditors Stockholders < Req 1A Req 1C Req 1B Req 1B > Required: 1-a. What amount of total assets have been financed by the creditors and by the stockholders? 1-b. Did Nice Bite rely more on creditors or stockholders for its financing at December 31, 2021? 1-c. What is your information source? Req 1C What is your information source? OIncome Statement Ostatement of Retained Earnings OBalance Sheet Statement of Cash Flows < Req 1A Complete this question by entering your answers in the tabs below. Req 1C >
! Required information [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers Required: $ 54,000 31,800 102,400 86,000 138,500 0 145,700 11,000 30,400 18,100 32,600 15,200 7,900 10,800 36,600 155,800 26,000 17,000 $ 30,000 34,100 11,900 61,400 94,000 155,000
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers Required: $ 54,000 31,800 102,400 86,000 138,500 0 145,700 11,000 30,400 18,100 32,600 15,200 7,900 10,800 36,600 155,800 26,000 17,000 $ 30,000 34,100 11,900 61,400 94,000 155,000
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