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Saved ! Required information [The following information applies to the questions displayed below.) Bearings & Brakes Corporation (B&B) was incorporated as a private company. The
Saved ! Required information [The following information applies to the questions displayed below.) Bearings & Brakes Corporation (B&B) 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 79,000 600,000 100,000 270,000 168,000 494,000 3,000 1,016,000 6,000 During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. C. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account. 6. As of July 31, has the financing for B&B's investment in assets primarily come from liabilities or stockholders' equity? Land Notes Payable (long-term) Retained Earnings Supplies 494,000 3,600 1,016,000 6,000 During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $100,000 e. Purchased supplies for $100,000 on account 6. As of July 31, has the financing for B&B's investment in assets primarily come from latilities or stockholders' equity? Multiple Choice Liabilities Stockholders' Equity
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