Required information. [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 $30,000 cash from the issue of common stock 2. Borrowed $40,000 cash from National Bank 3. Earned cash revenues of $48,000 for performing services 4. Paid cash expenses of $25,000 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the issue of common stock 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $53,000 cash to purchase land. 9. Determined that the market value of the land is $75,000 t. Determine the percentage of assets that were provided by investors, creditors, and earnings (Round your answers to 1 decimal place.) Investors Creditors Earnings Percentage of assets % %

Required information. [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 $30,000 cash from the issue of common stock 2. Borrowed $40,000 cash from National Bank 3. Earned cash revenues of $48,000 for performing services 4. Paid cash expenses of $25,000 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the issue of common stock 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $53,000 cash to purchase land. 9. Determined that the market value of the land is $75,000 t. Determine the percentage of assets that were provided by investors, creditors, and earnings (Round your answers to 1 decimal place.) Investors Creditors Earnings Percentage of 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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