D Not secure tpx The following information applies to the questions displayed be

Question

D Not secure tpx The following information applies to the questions displayed below Delitberate 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 Lend $ 20,900 109,000 38,500 195,000 42.000 214,000 4,350 293,850 0,600 Notes Poyable (long-term Retained Earnings Supples Durning the month of July the company had the following activites a Issued 4,900 shares of common stock for $490,000 cosh. b. Borrowed $117,000 cash from a local bank, payable in two years c. Bought a building for $267250 paid $93.250 In cash and signed a three-year note for the balance d Paid cash for equipment that cost $275,000 e Purchased supples for $53,250 on account Required information 6.66 points transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Accounts Notes Cash Supplies Buildings Equi 195.000 293,850 490,000 Beg 38,500 10,600 109,000 142,000 214,000 20,900 4,350 490,000 117,000 (93.250) 75,000) 117,0 267 250 275,000 End O Type here to search

Explanation / Answer

Assets = Liabilities + Stockholders equity Cash Supplies Building Equipment Land Accounts payable Notes payable Common stock Retained earnings Beg bal 38500 10600 109000 142000 214000 20900 4350 195000 293850 a 490000 490000 b 117000 117000 c -93250 267250 174000 d -275000 275000 e 53250 53250 End 277250 63850 376250 417000 214000 74150 295350 685000 293850 Debit Credit a Cash 490000       Common stock 490000 b Cash 117000        Notes payable 117000 c Building 267250         Cash 93250           Notes payable 174000 d Equipment 275000          Cash 275000 e Supplies 53250       Accounts payable 53250 Trial balance Debit Credit Cash 277250 Supplies 63850 Building 376250 Equipment 417000 Land 214000 Accounts payable 74150 Notes payable 295350 Common stock 685000 Retained earnings 293850 Total 1348350 1348350

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