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! Required information (The following information applies to the questions displayed below.) Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts

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! Required information (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: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 27,400 146,000 52,750 190,000 140,000 220,000 5,950 342,700 7,300 During the month of July, the company had the following activities: a. Issued 6,000 shares of common stock for $600,000 cash. b. Borrowed $151,000 cash from a local bank, payable in two years. c Bought a building for $191,500; paid $92,500 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $228,000. e. Purchased supplies for $44,500 on account. 1. Analyze transactions (a)(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets + Cash Supplies 7,300 Land Buildings Equipment 146,000 140,000 Liabilities Accounts Notes Payable Payable 27.400 5,950 Stockholder's Equity Common Retained Stock Earnings 190,000 342,700 Beg 52.750 220.000 b. c. d. e. End

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