Requlred haformation The folowing biformation applits to the questions displeyed below J Oetberabe Speed Corporation (DSC) was incorporated as a private compamy The compary's accounts included the following ot June 30 . During the month of July the company had the following activities: a. Issued 4,200 shares of common stock flor $420,000cash b. Borowed $194,000 cash from a locol bonk, payable in two years. c. Bought a bulling for $265,250, paid $97,250 in cash and signed a three-year note for the balance. d. Poid cash for equilpment that cost $282.000 e. Purchased supples for $37,250 on account. 3. Summarize the journal entry effects from part 2 using T-accounts O Mnswer is not complete. 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 : During the month of July, the company had the following activities: a. Issued 4,200 shares of common stock for $420,000 cash. b. Borrowed $194,000 cash from a local bank, payable in two years. c. Bought a building for $265,250; paid $97,250 in cash and signed o three-year note for the balance. d. Paid cash for equipment that cost $282,000. e. Purchased supplies for $37,250 on account. 3. Summarize the journal entry effects from part 2 using T-accounts. (1) Required information 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 : During the month of July, the company had the following activities: a. Is sued 4,200 shares of common stock for $420,000 cash. b. Borrowed $194,000 cash from a local bank, payable in two years. c. Bought a bullding for $265,250; paid $97,250 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $282,000. e. Purchased supplies for $37,250 on account. 3. Summarize the journal entry effects from part 2 using T-accounts. (1) Required information (1) Required information \begin{tabular}{|l|r|r|} \hline \multicolumn{3}{|c|}{ Cash } \\ \hline Beginning Balance & 60,250 & \\ \hline a. & 420,000 & \\ \hline b. & 194,000 & \\ \hline & & \\ \hline Ending Balance & 577,250 & C. \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline \multicolumn{3}{|c|}{ Equipment } \\ \hline Beginning Balance & 157,500 & \\ \hline d. & 282,000 & \\ \hline & & \\ \hline Ending Balance & 439,500 & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ Buildings } \\ \hline \multicolumn{2}{|c|}{ Debit } \\ \hline Beginning Balance & 192,000 & \\ \hline & 265,250 & \\ \hline E. & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Land } \\ \hline Beginning Balance & 207,000 & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Notes Pavable Prex13141516of16:HNext
