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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
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 $ 28,200 194,000 49,000 145,000 157,000 291,000 6,400 526,300 14,900 During the month of July, the company had the following activities: a. Issued 5,200 shares of common stock for $520,000 cash. b. Borrowed $112.000 cash from a local bank, payable in two years. c. Bought a building for $207,000, paid $105,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $230.000. e. Purchased supplies for $45,250 on account. Return t Required information Beginning Balance Debit Cash 49,000 b Ending Balance Credit 120,000 520,000 a 105,000 c 230,000 d. 686,000 Equipment Debit. Credit Beginning Balance 157,000 d G 230,000 Ending Balance 387.000 Land 000 Supplies Debit Credit Beginning 14.900 Balance e 45,250 Ending Balance 60.150 Buildings Debit Credit Beginning Balance 194.000 C 207,000 Ending Balance 401.000 Accounts Payable Prev 45 of 10 Next > Return to question aw art 3 of 5 Required information Beginning Balance Debit Land 0 ints Ending Balance 291,000 291,000 Beginning Balance b. Debit * Notes Payable Ending Balance Retained Earnings Credit Credit 64,000 120.000 Debit Beginning Balance Ending Balance Accounts Payable Credit 28,200 45,250 e 73,450 Common Stock Debit Credit Beginning Balance 145,000 a 520,000 184,000 Ending Balance 665,000 < Prev 3 4 5 of 10 Next > Ending Balance Retained Earnings Debit Beginning Balance 563,000 Ending Balance 563,000 184,000 Credit Ending Balance 665,000 < Prev 3 4 5 of 10
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