Bearings & Brakes Corporation (B&B) was incorporated as a private company. The companys accounts included the following at June 30: Accounts Payable $55,000 Buildings 540,000 Cash 94,000 Common Stock 210,000 Equipment 156,000 Land 464,000 Notes Payable (long-term) 9,000 Retained Earnings 986,000 Supplies 6,000 During the month of July, the company had the following activities: Issued 3,300 shares of common stock for $330,000 cash. Borrowed $80,000 cash from a local bank, payable in four years. Bought a building for $174,000; paid $70,000 in cash and signed a three-year note for the balance. Paid cash for equipment that cost $94,000. Purchased supplies for $94,000 on account. Required: Analyze transactions (a)(e) to determine their effects on the a This question is set up like this a

Assets=Liabilities+SE

Cash/Supplies/Buildings/Equipment

a.

b.

c.

d.

e.

then next to that it has,

=Accounts Payable/Notes Payable (longterm)/+Common Stock