AT&T; LTE 1:18 PM 9996 0 Unit 2-Chapter 2 Assig correct. The following informati

Question

AT&T; LTE 1:18 PM 9996 0 Unit 2-Chapter 2 Assig correct. The following information applies to me questions displayed below Bearings& Brakes Corporation (8&) ws incorporsted s pri company. The company's accounts included the following at June 30. During the menth of uly the company had the following activities ssued 4,000 shares of Borrowed $115.000 cash from a Bought a bulding for $188000 paid smoor, cash and signed 0 common ssock for $400 000 cash bank, payable in in four years the balance for equipment that Paid cash for equigment that cost 50000 Punchased supplies for $101000 on aocount SOL000 Required Analyze transactions(a)-e) to determine their effects on the accounting equation. (Enter any decreases to acceunt balances with aas sign) BookInterpret the balance sheet using the cument ratio andan understanding of selaned conceets eBook Prepare an unadusted rial balance and a classified balance sheet eBook use journa, ertnes and Treeures to 9ow how Mansactons anect the balance sheet Check my work

Explanation / Answer

Assets

=

Liabilities

+

Stockholder's equity

a.

$ 400,000

$ 400,000

(Cash + )

(Common stock +)

b.

$ 115,000

$ 115,000

(Cash + )

(Loan payable +)

c.

$ 188,000

$ 111,000

(Building +)

(Notes payable +)

-$ 77,000

(Cash -)

d.

$ 101,000

(Equipment+)

-$ 101,000

(Cash -)

e.

$ 101,000

$ 101,000

(Supplies +)

(Accounts payable +)

Assets

=

Liabilities

+

Stockholder's equity

a.

$ 400,000

$ 400,000

(Cash + )

(Common stock +)

b.

$ 115,000

$ 115,000

(Cash + )

(Loan payable +)

c.

$ 188,000

$ 111,000

(Building +)

(Notes payable +)

-$ 77,000

(Cash -)

d.

$ 101,000

(Equipment+)

-$ 101,000

(Cash -)

e.

$ 101,000

$ 101,000

(Supplies +)

(Accounts payable +)

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