5.10.00 points Required Information ulred informatio company\'s accounts include
ID: 2391574 • Letter: 5
Question
5.10.00 points Required Information ulred informatio company's accounts included the following at June 30: 4. Prepare a trial balance at July 31 BEARINGS&BRAKES; CORPORATION Trial Balance $ 79,000 Accounts Payable Buildings Cash Common Stock Debit Credit Land Notes Payable (long-term) Retained Earnings Supplies 100,000 270,000 168,000 494,000 3,000 1016,000 6,000 During the month of July, the company had the following activities: a. Issued 3,900 shares of common stock for $390,000 cash. b. Borrowed $110,000 cash from a local bank, payable in four years. c. Bought a building for $186,000; paid $76,000 in cash and signed a three-year note for the Totals balance. d. Paid cash for equipment that cost $100,000. e. Purchased supplies for $100,000 on account. eBook & Resources Learning Objective: 02-02 Apply transaction analysis to accounting transactions. Worksheet earning Objective: 02-04 Prepare a trial balance and a classified balance sheet.Explanation / Answer
Calculate trial balance :
786000
Debit credit Cash 424000 Supplies 106000 Land 494000 Building786000
Equipment 268000 Account payable 179000 Notes payable 113000 Bank loan 110000 Common Stock 660000 Retained earnings 1016000 Totals 2078000 2078000