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Required information Skip to question [The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as a private company. The

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[The following information applies to the questions displayed below.]

Deliberate Speed Corporation (DSC) was incorporated as a private company. The companys accounts included the following at June 30:

Accounts Payable $ 20,000
Buildings 100,000
Cash 36,000
Common Stock 180,000
Equipment 118,000
Land 200,000
Notes Payable (long-term) 2,000
Retained Earnings 259,000
Supplies 7,000

During the month of July, the company had the following activities:

  1. Issued 4,000 shares of common stock for $400,000 cash.
  2. Borrowed $100,000 cash from a local bank, payable in two years.
  3. Bought a building for $182,000; paid $82,000 in cash and signed a three-year note for the balance.
  4. Paid cash for equipment that cost $200,000.
  5. Purchased supplies for $30,000 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.)

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