# [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 #### Similar Solved Questions 1 answer ##### A bond currently sells for$1,050, which gives it a yield to maturity of 6%. Suppose...
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