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Required information (The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC)...

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Accounting

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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 the following at June 30: Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 27,800 156,000 58,250 155,000 138,000 262,000 3,250 440,100 11,900 During the month of July, the company had the following activities: a. Issued 5,500 shares of common stock for $550,000 cash. b. Borrowed $135,000 cash from a local bank, payable in two years. c. Bought a building for $233,000; paid $90,000 in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost $225,000. e. Purchased supplies for $54,250 on account. Required: 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Cash Assets Supplies Buildings Equipment 11,900 156,000 138,000 Land Liabilities Accounts Notes Payable Payable 27,800 3,250 Stockholder's Equity Common Retained Stock Earnings 155,000 440,100 Beg 58,250 262,000 a. b. C. d. e. End

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