1 answer

[The following information applies to the questions displayed below.] Deliberate Speed Corporation (DSC) was incorporated as...

Question:

[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 $ 27,400

Buildings 146,000

Cash 52,750

Common Stock 190,000

Equipment 140,000

Land 220,000

Notes Payable (long-term) 5,950

Retained Earnings 342,700

Supplies 7,300

During the month of July, the company had the following activities:

Issued 6,000 shares of common stock for $600,000 cash.

Borrowed $151,000 cash from a local bank, payable in two years.

Bought a building for $191,500; paid $92,500 in cash and signed a three-year note for the balance.

Paid cash for equipment that cost $228,000.

Purchased supplies for $44,500 on account

Please prepare a trial balance at July 31.


Answers

Trial Balance at July 31:
As on June 30 Transactions during July As on July 31
Account Title Debit $ Credit $ Debit $ Credit $ Debit $ Credit $
Cash 52750 430500 483250
supplies 7300 44500 51800
Land 220000 220000
Building 146000 191500 337500
Equipment 140000 228000 368000
Accounts Payable 27400 44500 71900
Notes Payable (long term) 5950 99000 104950
Long term borrowing (Bank) 151000 151000
Common stock 190000 600000 790000
Retained Earnings                 342700                                342700
Total 566050 566050 894500 894500 1460550 1460550
.

Similar Solved Questions

1 answer
A bond currently sells for $1,050, which gives it a yield to maturity of 6%. Suppose...
A bond currently sells for $1,050, which gives it a yield to maturity of 6%. Suppose that if the yield increase by 25 basis points, the price of the bond falls to $1,025. What is the duration of this bond?...
1 answer
What is the definite integral of (x^2-3x)cos2x from 0 to pi ?
What is the definite integral of (x^2-3x)cos2x from 0 to pi ?...
1 answer
27.2-1 Draw the computation dag for computing P-SQUARE-MATRIX-MULTIPLY on 2x2 matrices, labeling how the vertices in...
27.2-1 Draw the computation dag for computing P-SQUARE-MATRIX-MULTIPLY on 2x2 matrices, labeling how the vertices in your diagram correspond to strands in the execution of the algorithm. Use the convention that spawn and call edges point downward, continuation edges point horizontally to the right, ...
1 answer
How do you simplify #(8x^2)/(25x^2-36)-1/(10x+12)#?
How do you simplify #(8x^2)/(25x^2-36)-1/(10x+12)#?...
1 answer
9 From the following list choose the variables that are held fixed in drawing a market...
9 From the following list choose the variables that are held fixed in drawing a market demand curve: a)price of the b) consumer income, c) price of other d)consumer e) quantity of the product, related goods, expectations about product purchased. future prices, 10 From the following list, choose the ...
1 answer
Review of air at a temperature of A compressed-air tank holds 0.490 m 281 K and...
Review of air at a temperature of A compressed-air tank holds 0.490 m 281 K and a pressure of 900 kPa. Part A What volume would the air occupy if it were released into the atmosphere, where the pressure is 101 kPa and the temperature is 305 K? 180 AEC O O ? v- [ Submit Request Answer...
1 answer
For the following reaction A_2 (aq) + B_2 rightarow 2AB(aq) a. Draw the location of the...
For the following reaction A_2 (aq) + B_2 rightarow 2AB(aq) a. Draw the location of the products if this is an endothermic reaction. b. Is the value of q positive or negative? c. Will the reaction vessel feel warmer or cooler than it did initially?...
1 answer
Problem 1 Consider the matrix Problem 1 Consider the matriz a 2 5 3 11 08...
Problem 1 Consider the matrix Problem 1 Consider the matriz a 2 5 3 11 08 a Find the cofactors C11,C2,C3 of A. b Find the determinant of 1, det(A) [ 2 4 61 Problem 2 Consider the matriz A=008 | 2 5 3 a Use the ero's to put A in upper triangular form 5 Pinul the determinant of A. (A) by keeping t...
1 answer
Duc V ZUZU IL Is race a factor in the number of times a month a...
Duc V ZUZU IL Is race a factor in the number of times a month a person eats out? The table below shows data that was collected Asian White Black Hispanic 11 2 0 15 10 14 3 12 14 6 2 2 0 6 8 9 10 6 11 12 8 2 9 9 13 14 7 5 Assume that all distributions are normal, the four population standard deviatio...
1 answer
The first step in the commercial production of titanium metal is the reaction of rutile (TiO2) with chlorine and graph...
The first step in the commercial production of titanium metal is the reaction of rutile (TiO2) with chlorine and graphite: TiO2(s) + 2Cl2(g) + 2C (s) TiCl4(l) + 2CO (g) Use the following data to calculate Keq for this reaction at 25° C. Formula ?H°f (KJ/mol) S° (J/K mol) TiO2(s) -94...
1 answer
Consider a series RC circuit as in the figure below for which R-5 MOhms, C-84F, and...
Consider a series RC circuit as in the figure below for which R-5 MOhms, C-84F, and g=50V. w C R E (c) Find the current in the resistor 10 s after the switch is closed. 0.78mc010-1.jpgA 7.79c010-2.jpg 0.71mc010-3.jpgA 2.69 010-4.jpg None of the above...
1 answer
Based on the flowchart below: Identify any control weaknesses in the process. Describe the risks associated...
Based on the flowchart below: Identify any control weaknesses in the process. Describe the risks associated with the control weaknesses. Describe the control techniques needed to reduce the risks....
1 answer
For the following reaction in aqueous solution, identify all the species that will be spectator ions....
For the following reaction in aqueous solution, identify all the species that will be spectator ions. 2KF+ Mg(CH_3COO)_2 rightarrow 2KCH_3COO+ MgF_2 KF F^- MgF_2 CH_3 COO^- KCH_3 COO MG^2+ Mg(CH_3 COO)_2 K^+...
1 answer
If I have 5.6 liters of gas in a piston at a pressure of 1.5 atm and compress the gas until its volume is 4.8 L, what will the new pressure inside the piston be?
If I have 5.6 liters of gas in a piston at a pressure of 1.5 atm and compress the gas until its volume is 4.8 L, what will the new pressure inside the piston be?...
1 answer
Please complete the lab following the guidelines using JAVA Activity 1 Write a program called AnalyzeNumbers....
Please complete the lab following the guidelines using JAVA Activity 1 Write a program called AnalyzeNumbers. This program will have array that holds 10 random integers from 1 to 5. Output the 10 random numbers to the screen using an enhanced for loop. This program will also have a method called f...
1 answer
2. A very small object carrying -6.0 C of charge is attached to a large, well-anchored...
2. A very small object carrying -6.0 C of charge is attached to a large, well-anchored and positively charged object. How much kinetic energy does the negatively charged object gain if the potential difference through which it moves is 3.0 mV? A c. D 18 nJ 0.50 kj 0.5 6.0 MJ 2. A very small object c...