Question: 1 Required information PA 2 - 2 ( Algo ) Analyzing and Recording Transactions ( in a Spreadsheet, Journal and T - Accounts ) ;

1
Required information
PA2-2(Algo) Analyzing and Recording Transactions (in a Spreadsheet, Journal and T-Accounts); Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5]
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Deliberate Speed Corporation (DSC) was incorporated as a private company. The company's accounts included the following at June 30.
During the month of July, the company had the following activities:
a. Issued 5,200 shares of common stock for $520,000 cash
b. Borrowed $112,000 cash from a local bank, payable in two years.
c. Bought a building for $207,000; paid $105,000 in cash and signed a three-year note for the balance.
d. Paid cash for equipment that cost $230,000.
e. Purchased supplies for $45.250 on account.
1 Required information PA 2 - 2 ( Algo )

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