1.analyze transactions(a)-(e) to determine their effects on the accounting equation

2. record the transactions effects determined in part 1 using a journal entry format

3summarize the journal effects from part 2 using T - acxounts

4.prepare a classified balance sheet at july 31

Required information [The following information applies to the questions displayed below. Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable $ 22,500 Buildings 112,000 Cash 52,500 Common Stock 175,000 Equipment 151,000 Land 290,000 Notes Payable (long-term) 5,650 Retained Earnings 410,250 Supplies 7,900 During the month of July, the company had the following activities a. Issued 5,100 shares of common stock for $510,000 cash. b. Borrowed $183,000 cash from a local bank, payable in two years. c Bought a building for $210,750; paid $86,750 in cash and signed a three-year note for the balance. d. Pald cash for equipment that cost $284,000. e. Purchased supplies for $37,000 on account. Required: 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation (Enter any decreases to account balances with a minus sign.) Cash Supplies 7.900 Assets Buildings Equipment 112,000 151,000 Land Liabilities Accounts Notes Payable Payable 22,500 5,650 + Stockholders' Equity Common Retained Stock Earnings 175,000 410,250 Beginning Balance 52,500 290,000 b + . ding Balance 52,500 7.900 112,000 151,000 200,000 22.500 5,650 + 175.000 410,250 View transaction list Journal entry worksheet Notes Payable Common Stock eBook Credit Debit Beginning Balance Credit Debit Beginning Balance Print Ending Balance References Ending Balance Retained Earnings Dobit Beginning Balance Credit Ending Balance DELIBERATE SPEED CORPORATION Balance Sheet ira arances