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P repare a Balance Sheet for this At july 31. Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the
Prepare a Balance Sheet for this At july 31.
Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable Factory Building Cash Contributed Capital Equipment $ 26,000 104,800 30,800 196,000 134,000 Land Notes Payable (long-term) Retained Earnings Supplies $ 216,000 5,200 267,000 8,600 During the month of July, the company had the following transactions: a. Issued 3,680 shares for $368,000 cash. b. Borrowed $122,000 cash from a local bank, payable in two years. c. Bought a factory building for $214,000; paid $98,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $232,000. e. Purchased supplies for $34,800 on account. RequiredStep by Step Solution
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