Question

Maben Company was started on January 1, Year 1, and experienced the following events durin 1. Acquired $29,000 cash from the issue of common stock. 2. Borrowed $41,000 cash from National Bank. 3. Earned cash revenues of $57,000 for performing services. 4. Paid cash expenses of $49,500. 5. Paid a $1,900 cash dividend to the stockholders. 6. Acquired an additional $29,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $52,000 cash to purchase land. 9. Determined that the market value of the land is $73,000. f. Determine the percentage of assets that were provided by investors, creditors, and earnings. (Rou places.) Assets % Investors Creditors Earnings % % 9 < Prev 8 of 8 Next

Answer 1

	Assets		investors		creditors		earnings	total
1	shares	$	29000
2	bank	$			41000
3	revenue						57000
4	expenses						-49500
5	dividend to shareholder					-1900
6	additional issue of shares	29000
7	paid to bank to reduce note		-10000
8	bought land
	total assets	58000		31000		5600	94600
	% of assets contributed	61%		33%		6%
			0.613108