Please help with the following Problem Sets: Exercise 1-9A on page 40 Exercise 1-9A -Components of the accounting equation Jones Enterprises was

Please help with the following Problem Sets:

•Exercise 1-9A on page 40

Exercise 1-9A -Components of the accounting equation

 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.

 b. After all events have been recorded; Jones's obligations to creditors represent what percent of

total assets?

 c. After all events have been recorded; Jones's stockholders' equity represents what percent of

total assets?

 d. Assume the debt is due. Given that Jones has $10,000 in stockholders' equity; can the company repay the creditors at this point? Why or why not?

•Exercise 1-10A on page 40             

Exercise 1-10A -Components of the accounting equation

 Common Retained

 Assets 5 Liabilities 1 Stock 1 Earnings

 Allen $10,000 5 $7,500 1 $2,000 1 $ 500

 White $12,000 5 $3,000 1 $7,200 1 $1,800

 Required

 a. Based on this information alone, can you determine whether White can pay a $2,000 cash

dividend? Why or why not?

 b. Reconstruct the accounting equation for each company using percentages on the right side

of the equation instead of dollar values. Which company is more financially stable? Why?

 c. Assume Allen incurs a $3,500 operating loss. The remaining assets are sold for the value

shown on the books, and the cash proceeds are distributed to the creditors and investors.

How much money will be paid to creditors and how much will be paid to investors?

 d. Assume White incurs a $3,500 operating loss. The remaining assets are sold for the value

shown on the books, and the cash proceeds are distributed to the creditors and investors.

How much money will be paid to creditors and how much will be paid to investors?

•Exercise 1-4A on page 38

Exercise 1-4A Missing information in the accounting equation

 Required                                                                                                            

 Calculate the missing amounts in the following table.

 Stockholders' Equity

 Company Retained

 Company Assets 5 Liabilities 1 Stock 1 Earnings

 A $ ? $25,000 48,000 $50,000

 B 40,000 ? 7,000 30,000

 C 75,000 15,000 ? 42,000

 D 125,000 45,000 60,000 ?

•Exercise 1-7A on page 39

Exercise 1-7A Missing information and recording events

 As of December 31, 2016, Moss Company had total cash of $195,000, notes payable of $90,500,

and common stock of $84,500. During 2017, Moss earned $42,000 of cash revenue, paid $24,000

for cash expenses, and paid a $3,000 cash dividend to the stockholders.

 Required

 a. Determine the amount of retained earnings as of December 31, 2016.

 b. An accounting equation and record the beginning account balances under the appropriate elements.

 c. Record the revenue, expense, and dividend events under the appropriate elements of the accounting equation created in Requirement b .

 d. Prove the equality of the accounting equation as of December 31, 2017.

Exercise 1-6A Effect of transactions on general ledger accounts

 At the beginning of 2016, Better Corp.'s accounting records had the following general ledger accounts and balances.

BETTER CORP.

 Accounting Equation

 Acct. Titles

 Event Assets 5 Liabilities 1 Stockholders' Equity for RE

 Notes Common Retained

Cash Land Payable Stock Earnings

 Balance

 1/1/2016 10,000 20,000 12,000 7,000 11,000

Better Corp. completed the following transactions during 2016:

 1. Purchased land for $5,000 cash.

 2. Acquired $25,000 cash from the issue of common stock.

 3. Received $75,000 cash for providing services to customers.

 4. Paid cash operating expenses of $42,000.

 5. Borrowed $10,000 cash from the bank.

 6. Paid a $5,000 cash dividend to the stockholders.

 7. Determined that the market value of the land purchased in event 1 is $35,000.

 Required

 a. Record the transactions in the appropriate general ledger accounts. Record the amounts of

revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate

titles for these accounts in the last column of the table.

 b. As of December 31, 2016, determine the total amount of assets, liabilities, and stockholders'

equity and present this information in the form of an accounting equation.

 c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2017?

•Exercise 1-8A on page 39

Exercise 1-8A Account titles and the accounting equation

 The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFSI): Computers, Operating Expenses, Rent Revenue, Building, Cash, Notes Payable,

Land, Utilities Payable, Utilities Expense, Trucks, Gasoline Expense, Retained Earnings, Supplies, Accounts Payable, Office Furniture, Salaries Expense, Common Stock, Service Revenue,

Interest Expense, Dividends, Supplies Expense.

Required

 a. An accounting equation using the elements assets, liabilities, and stockholders' equity.

List each account title under the element of the accounting equation to which it belongs.

 b. Will all businesses have the same number of accounts? Explain your answer.