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Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the...

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Accounting

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Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30 Accounts Payable $ 22,500 Bulldings 112,000 Cash 52,500 Common Stock 175.000 Equipment 151,000 Land 290, cee Notes Payable (long-term) 5,650 Retained Earnings 410,250 Supplies 7.900 During the month of July, the company had the following activities a Issued 5100 shares of common stock for $510,000 cash b Borrowed $183,000 cash from a local bank, payable in two years c Bought a building for $210750; paid $86,750 in cash and signed a three-year note for the balance d. Paid cash for equipment that cost $284,000 e Purchased supplies for $37,000 on account Assets + Cash Supplies Buildings Equipment Land Liabilities Accounts Notes Payable Payable 22,500 5,650 Stockholders' Equity Common Retained Stock Earnings 175,000 410,250 Beginning Balance 52,500 7.900 112 000 151.000 290,000 a b + + d + 5,650+ Ending Balance 52.500 7.900 112 000 151,000 290,000 22.500 175,000 410,250

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