refer pb1 1 accounts payable 33 130 accounts receivable 4373278

Refer PB1-1. Accounts Payable……………………….. $ 33,130 Accounts Receivable……………………….. 9,500 Cash………………………………………. 13,900 Common Stock…………………………… 10,000 Dividends………………………………….. 1,100 Equipment………………………………… 86,000 Notes Payable…………………………….. 51,220 Operating Expenses………………………. 60,000 Other Expenses……………………………. 8,850 Sales Revenue……………………………. 94,000 Supplies…………………………………… 9,000 Required: 1. Is the company financed mainly by creditors or stockholders? Which financial statement indicates this? 2. Was the company profitable? Which financial statement indicates this? 3. By how much did cash increase (decrease)? Which financial statement would report the reasons for this change in cash? 4. Did the company’s dividends exceed its net income? Which financial statement indicates this? View Solution:
Refer PB1 1 Accounts Payable 33 130 Accounts Receivable 9 500 Cash

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