Exercise $1-9$A $($Algo$)$ Record events and Interpret information in an accounting equation LO $1-4,1-5$

Jones Enterprises was started when it acquired $$6,750$ cash from creditors and $$20,250$ from owners. The company immediately

purchased land that cost $$22,000.$

Required

a$.$ Record the events under an accounting equation.

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

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

d$.$ Assume the debt is due. Given that Jones's has $$20,250$ in stockholders' equity, can the company repay the creditors at this point?

Complete this question by entering your answers in the tabs below.

Req B to D

b$.$ After all events have been recorded, Jones's obligations to creditors represent what percentage 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's has $$20,250$ in stockholders' equity, can the company repay the creditors at

this point?