Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 10 What amount of total assets have been financed by the creditors and by the stockholders? Financed by Creditors $ 80,000 Financed by Stockholders 2$ 210,700 < Req 1A Req 1B >
Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 10 What amount of total assets have been financed by the creditors and by the stockholders? Financed by Creditors $ 80,000 Financed by Stockholders 2$ 210,700 < Req 1A Req 1B >
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 48P
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Question
Complete this question by entering your answers in the tabs below.
Transcribed Image Text:Required:
1-a. What amount of total assets have been financed by the creditors and by the stockholders?
1-b. Did Nice Bite rely more on creditors or stockholders for its financing at December 31, 2021?
1-c. What is your information source?
Complete this question by entering your answers in the tabs below.
Req 1A
Req 1B
Req 10
What amount of total assets have been financed by the creditors and by the stockholders?
Financed by Creditors
2$
80,000
Financed by Stockholders
$
210,700
< Req 1A
Req 1B >
![!
Required information
[The following information applies to the questions displayed below.]
The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
$ 46,000
Accounts Receivable
23,800
90,400
78,000
152,500
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
137,700
10,200
Interest Expense
29,600
Inventory
Notes Payable
Office Expense
17,300
25,000
14,400
7,100
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
6,800
35,800
Service Revenue
139,800
25,200
9,000
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
$ 22,000
24,500
11,100
53,400
84,400
139,000
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49c9504d-90a6-45ee-b501-945c38ba8c84%2F0dbb628c-da7b-4c8b-882c-0dfa81b78ea7%2F1ocj8yw_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
$ 46,000
Accounts Receivable
23,800
90,400
78,000
152,500
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
137,700
10,200
Interest Expense
29,600
Inventory
Notes Payable
Office Expense
17,300
25,000
14,400
7,100
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
6,800
35,800
Service Revenue
139,800
25,200
9,000
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
$ 22,000
24,500
11,100
53,400
84,400
139,000
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers
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