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12 13these two problems go together part 1 and 2 of the same problem. thank you Required information [The following information applies to the questions
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Required information [The following information applies to the questions displayed below.] Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable $79,000 Buildings Cash 600,000 100,000 Common Stock 270,000 Equipment 168,000 Land Notes Payable (long-term) 494,000 3,000 Retained Earnings 1,016,000 6,000 Supplies During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account. ok ces 4. Prepare a trial balance at July 31. Totals BEARINGS & BRAKES CORPORATION Trial Balance Debit $ 0 $ Credit 0 Required information [The following information applies to the questions displayed below.) Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Buildings $79,000 600,000 100,000 Cash Common Stook 270,000 Equipment 168,000 Land Notes Payable (long-term) Retained Earnings Supplies 494,000 3,000 1,016,000 6,000 During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account. ces 5. Prepare a classified balance sheet at July 31. BEARINGS & BRAKES CORPORATION Balance Sheet 0 $ 0 0 0 0 13these two problems go together part 1 and 2 of the same problem. thank you
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