DROP DOWN OPTIONS ASSETS/LIABILITIES/STOCKHOLDER'S EQUITY:

Accounts payable

Building Cas

h common stock

equipment

land notes

payable(long-term)

Retained earnings

supplies

Required information The following information applies to the questions displayed below) 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 79,000 600,000 100,000 270,000 168,000 494,000 3,000 1,016,000 6,000 During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 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 Stockholders' Equity Accounts Payable a. Cash b. Supplies Common Stock Retained Earings Notes Payable (long-term) d Equipment uidings Land Equipment Land Notes Payable (long-term) Retained Earnings Supplies