included the following at June 30 Accounts Payable Buildings Cash Common Stock E
ID: 2338205 • Letter: I
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included the following at June 30 Accounts Payable Buildings Cash Common Stock Equipment Land Notes Payable (long-term) Retained Earnings Supplies $ 22,500 112,000 52,500 175,000 151,000 290,000 5,650 410,250 7,900 During the month of July, the company had the following activities: a. Issued 5,100 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 $210,750; 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 $37000 on account. References PA2-2 Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-2, LO 2-3, LO 2-4, LO 2-5 Section Break value 2.00 points PA2-2 Part 1 Required 1. Analyze transactions (a) e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stockholder's Equity Notes Accounts Payable Common Retained Earnings Cash Supplies Buildings Equipment Land Stock Beg 52,500 7,900 112,000 151,000 290,000 22,500 5,650 175,000 410,250 . EndExplanation / Answer
Assets Liabilities Stockholder's equity Cash Supplies Buildings Equipment Land Accounts Payable Notes payable Common stock Retained earnings Beg. 52,500 7,900 112,000 151,000 290,000 22,500 5,650 175,000 410,250 a 510,000 510,000 b 183,000 183,000 c (86,750) 210,750 124,000 d (284,000) 284,000 e (37,000) 37,000 End. 337,750 44,900 322,750 435,000 290,000 205,500 129,650 685,000 410,250
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