O QUIZ 1 ON CHAPTER 1 1 Saved 56 Exercise 1-9A (Algo) Record events and Interpret information in an accounting equation LO 1-4, 1-5 Jones Enterprises was started when it acquired $5,500 cash from creditors and $16,500 from owners. The company immediately purchased land that cost $18,000. Required a. Record the events under an accounting equation. b. After all events have been recorded, Jones' obligations to creditors represent what percentage of total assets? c. After all events have been recorded, Jones' stockholders' equity represents what percentage of total assets? d. Assume the debt is due. Given that Jones has $16,500 in stockholders' equity, can the company repay the creditors at this point? Complete this question by entering your answers in the tabs below. Req A Req B to D Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign.) Cash JONES ENTERPRISES Accounting Equation Assets Land Liabilities + Notes Payable Stockholders' Equity Common Stock Balance