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Required information PA2-2 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] Dellberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the * following at June 30 : During the month of July, the company had the following activities: a. Issued 6,300 shares of common stock for $630,000 cash. b. Borrowed $163,000 cash from a local bank, payable in two years. c. Bought a buliding for $204,750; paid $101,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $241,000. e. Purchased supplies for $46,500 on account. PA2-2 (Algo) 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.) a. Issued 6,300 shares of common stock for $630,000 cash. b. Borrowed $163,000 cash from a local bank, payable in two years. c. Bought a bullding for $204,750; paid $101,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $241,000. e. Purchased supplies for $46,500 on account. PA2-2 (Algo) Part 1 Required: 1. Analyze transactions (o)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus slgn.) Required information PA2-2 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30 : During the month of July, the company had the following activities: a. Issued 6,300 shares of common stock for $630,000 cash. b. Borrowed $163,000 cash from a local bank. payable in two years. c. Bought a bullding for $204,750; paid $101,750 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $241,000. e. Purchased supplies for $46,500 on account. PA2-2 (Algo) Part 2 2. Record the transaction effects determined in part 1 using a journal entry format. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 2. Flooord the vansaction effects deterined in punt 1 weing a jounsi entry format (if no entry is required stlect "No Jsurnal Entry Regulred" in she first accosit fieid.) Journal entry worksheet Lrued 6,300 shares of connon stock for s4id, obl cath. Record the tranuction. 2. Aecord the transaction effects determined in pert 1 using a journal entry format. (if no er solect "No Journal Entry Required* in the first account field.) Journal entry worksheet 5 Borrowed $163,000 cash from a local bank, payable in two years. Record the transaction. hole: Exter deblat before orwask. 2. Record the transaction effects detestined in part 1 using a journal entry format. (if no en select "No Journal Entry Required" int the first account field.) Journal entry worksheet Beught a building for \$204,750; paid 5101, 750 in cash and signed a threeyear nobe for the balance. Recors the tranaction. 2. Record the transaction effects determined in perti usugg a jouthai svacy, select "No Journal Entry Required" in the first account field.) Journal entry worksheet