Analyze the required transcationn(a) -(e) to determine their effects on the accounting equations ( Enter any decreases to account balances with a minus sign
Assignment 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 buildings Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 27,400 146,000 52,750 190,000 140,000 220,000 5,950 342,700 7,300 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600.000 cash, b. Borrowed 5151.000 cash from a local bank, payable in two years. Bought a building for $191.500; paid $92.500 in cash and signed a three-year note for the balance, o Pald cash for equipment that cost $228.000. e Purchased supplies for $44.500 on account Required D. Borrowed 5151,000 cash trollid c. Bought a building for $191,500; paid $92,500 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $228,000. e. Purchased supplies for $44.500 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.) Assets Liabilities Accounts Notes Payable Payable 27 400 5 950 Stockholder's Equity Common Retained Stock Earnings 190.000 342.700 Land Cash Supplies 7.300 Buildings Equipment 146 000 140.000 220.000 Beg 52.750 b Eng S Prov 2 Next o D Assignment 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 buildings Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 27,400 146,000 52,750 190,000 140,000 220,000 5,950 342,700 7,300 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600.000 cash, b. Borrowed 5151.000 cash from a local bank, payable in two years. Bought a building for $191.500; paid $92.500 in cash and signed a three-year note for the balance, o Pald cash for equipment that cost $228.000. e Purchased supplies for $44.500 on account Required D. Borrowed 5151,000 cash trollid c. Bought a building for $191,500; paid $92,500 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $228,000. e. Purchased supplies for $44.500 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.) Assets Liabilities Accounts Notes Payable Payable 27 400 5 950 Stockholder's Equity Common Retained Stock Earnings 190.000 342.700 Land Cash Supplies 7.300 Buildings Equipment 146 000 140.000 220.000 Beg 52.750 b Eng S Prov 2 Next o D
