Deliberate Speed Corporation (DSC) was incorporated as a private company on June 1, 2017. The company's accounts included the following at June 30, 2017: $ 211,000 Accounts Payable Factory Building Cash Contributed Capital Equipment $ 21,000 103,300 29,300 191,00 129,000 Land Notes Payable, due 2019 Retained Earnings Supplies 264,500 8,100 During the month of July, the company had the following activities: a. Issued 3,780 shares for $378.000 cash. b. Borrowed $112,000 cash from a local bank, payable June 30, 2020 Bought a factory building for $204,000 paid $93,000 in cash and signed a three-year note for the balance. d. . e. Purchased supplies for $33,300 on account Required: 1. Analyze transactions (0)(6) to determine their effects on the accounting equation (Enter any decreases to account balances with a minus sign.) Liabilities Shareholders' Equity 3 112,000 Contributed capital 378.000 Transaction Assets a Cash 378,000 b. Cash 112,000 Notes payable C Factory building 204,000 Cash (93,000) Notes payable d. Equipment 222.000 Cash (222,000) e. Supplies 33,300 Accounts payable "Red but indicates no response was expected in a celor a formule-based calculation is incorrecto point deducted 111,000 33,300 . 3. Summarize the journal entry effects from requirement 2 using T-accounts. Beg. bal. Beg. bal. Cash 29,300 378,000 222,000 11,200 204,300 Supplies 8,900 93,000 a. x b. d. X 101,900 End. bal. 7,800 Beg, bal. Factory Building 8,100 33,300 Beg, bal. Equipment 21,000 33,300 c. d. End, bal. 41,400 End, bal. 54,300 Beg, bal Land 8,100 Beg, bal. Accounts Payable 33,300 41,400 e. End. bal. 8,100 End, bal. 74,700 Beg, bal. Beg, bal. Notes Payable 129,000 222,000 b. 351,000 C. Contributed Capital 351,000 211,000 a. O End, bal. 562,000 End. bal. 702,000 Retained Earnings 4. Prepare a classified balance sheet at July 31, 2017. DELIBERATE SPEED CORPORATION Balance Sheet At July 31, 2017 Liabilities Assets Current assets Cash Factory building Land Equipment Total current assets $ 204,300 307,300 211,000 351,000 1,073,600 Current liabilities Notes payable Accounts payable Common shares 4,200 165,300 112,000 Total current liabilities 281,500 % 281,500 Supplies 41,400 Total liabilities Shareholders' equity Contributed capital Retained earnings 569,000 264,500 Total shareholders' equity $ Total assets 1,115,000 Total liabilities & shareholders' equity *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. 833,500 $ 1,115,000