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Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30 Accounts Payable Buildings Cash Common
Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30 Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 88,000 650, eee 105,000 32e, eee 178, eee 519,00 8,888 1,041,000 5,000 During the month of July, the company had the following activities: a. Issued 4.400 shares of common stock for $440,000 cash. b. Borrowed $135,000 cash from a local bank, payable in four years. c. Bought a building for $196,000; paid $81,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $105,000 e Purchased supplies for $105,000 on account. Answer is not complete. Bog. Bal. Beg Bal. Cash 105,000 440,000 81,000 135,000 105,000 Supplies 5,000 105,000 a. c. e. >> b. 0 d. End. Bal. 494,000 End, Bal 110,000 Equipment 178,000 105,000 Buildings 650,000 Beg. Bal. d. Beg. Bal 650,000 End, Bal 283,000 End. Bal Anunt Dunkle Land 519,000 Beg. Bal. Beg. Bal. Accounts Payable 88,000 105,000 e. End. Bal. 519,000 End. Bal. 17,000 Notes Payable 8,000 $ 135,000 Common Stock 320,000 Beg. Bal. Beg. Bal. b. End. Bal. 127,000 End. Bal. 320,000 Retained Earnings 1,041,000 Beg. Bal. End. Bal. 1,041,000
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