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Record the events under an accounting equation

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Reference no: EM133102697

Question - Jones Enterprises was started when it acquired $9,200 cash from creditors and $13,800 from owners. The company immediately purchased land that cost $16,000.

Required -

a. Record the events under an accounting equation.

b. After all events have been recorded, Jones's obligations to creditors represent what percent of total assets?

c. After all events have been recorded, Jones's stockholders' equity represents what percentage of total assets?

d. Assume the debt is due. Given that Jones has $13,800 in stockholders' equity, can the company repay the creditors at this point?

Reference no: EM133102697

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