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Deliberate Speed Corporation ( DSC ) was incorporated as a private company. The company s accounts included the following at June 3 0 : Accounts
Deliberate Speed Corporation DSC was incorporated as a private company. The companys accounts included the following at June :
Accounts Payable $ Land $
Building Notes Payable longterm
Cash Retained Earnings
Contributed Capital Supplies
Equipment
During the month of July, the company had the following transactions:
Issued shares for $ cash.
Borrowed $ cash from a local bank, payable in two years.
Bought a factory building for $; paid $ in cash and signed a threeyear note for the balance.
Paid cash for equipment that cost $
Purchased supplies for $ on account.
Required:
Analyze transactions ae to determine their effects on the accounting equation. Enter any decreases to account balances with a minus sign.
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