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 $ 24,900 Buildings 196,000 Cash 56,750 Common Stock 160,000 Equipment 148,000 Land 201,000 Notes Payable (long term) 3,050 Retained Earnings 423,500 Supplies 9,700 During the month of July, the company had the following activities a Issued 5,600 shares of common stock for $560,000 cash b Borrowed $106,000 cash from a local bank, payable in two years c Bought a building for $240,250 paid $90,250 in cash and signed a three year note for the balance d Paid cash for equipment that cost $261,000 e Purchased supplies for $33,250 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 ) 2 Summarize the journal entry effects from part 2 using T accounts 3 Prepare a classified balance sheet at July 31 4 Prepare a trial balance at July 31

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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

[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	$	24,900
Buildings		196,000
Cash		56,750
Common Stock		160,000
Equipment		148,000
Land		201,000
Notes Payable (long-term)		3,050
Retained Earnings		423,500
Supplies		9,700

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

Issued 5,600 shares of common stock for $560,000 cash.

Borrowed $106,000 cash from a local bank, payable in two years.

Bought a building for $240,250; paid $90,250 in cash and signed a three-year note for the balance.

Paid cash for equipment that cost $261,000.

e. Purchased supplies for $33,250 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.)

2. Summarize the journal entry effects from part 2 using T-accounts

3. Prepare a classified balance sheet at July 31.

4. Prepare a trial balance at July 31