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Jones Enterprises was started when it acquired $6,000 cash from creditors and $10,000 from owners. The company immediately purchased land that cost $12,000. Required a.
Jones Enterprises was started when it acquired $6,000 cash from creditors and $10,000 from owners. The company immediately purchased land that cost $12,000. Required a. Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign. Leave no cells blank - be certain to enter "0" wherever required.) JONES ENTERPRISES Accounting Equation Land Cash = Stockholders' Creditors + Equity Bal. $ 0 + $ 0 = $ 0 + $ 0 b. After all events have been recorded, Jones's obligations to creditors represent what percent of total assets? (Round your answer to 1 decimal place.) Percentage of total assets % c. After all events have been recorded, Jones's stockholders' equity represents what percent of total assets? (Round your answer to 1 decimal place.) Percentage of total assets
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