PB2-2 Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-2, LO 2-3, LO 2-4, LO 2-5] [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 $ 76,000 590.000 99.000 260.000 166.000 489.000 2.000 1,011,000 5.000 During the month of July, the company had the following activities: a. Issued 3,800 shares of common stock for $380.000 cash. b. Borrowed $105,000 cash from a local bank, payable in four years. c. Bought a building for $184,000: paid $75,000 in cash and signed a three-year note for the balance d. Paid cash for equipment that cost $99.000. e. Purchased supplies for $99,000 on account. References Section Break PB2-2 Recording Transactions in a Journal and T-Accounts): Preparing and Interpreting the Balance Sheet [LO 2-2. LO 2-3, LO 2-4, LO 2-5] 1. value: 1.00 points PB2-2 Part 1 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 a. Cash 3. value 1.00 points PB2-2 Part 3 3. Summarize the journal entry effects from part 2 using T-accounts Cash Supplies Beg. Bal. Beg. Bal. End. Bal. End. Bal. Equipment Buildings Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Beg. Bal. Beg Bal. End. Bal. End. Bal. Notes Payable Common Stock Beg. Bal Beg. Bal. End. Bal. End. Bal. Retained Earnings Beg. Bal. End. Bal. 4. Value 1.00 points PB2-2 Part 4 4. Prepare a trial balance at July 31. BEARINGS & BRAKES CORPORATION Trial Balance Debit Credit Totals 5. value: 1.00 points PB2-2 Part 5 5. Prepare a classified balance sheet at July 31. BEARINGS & BRAKES CORPORATION Balance Sheet