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(Solved): Required information [The following information applies to the questions displayed below.] Delibera ...




Required information
[The following information applies to the questions displayed below.]
Deliberate Speed Corporation (DSC)
4. Prepare a trial balance at July 31.
5. Prepare a classified balance sheet at July 31.
Required information [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 ; During the month of July, the company had the following activities: a. Issued shares of common stock for cash. b. Borrowed cash from a local bank, payable in two years. c. Bought a building for : paid in cash and signed a three-year note for the balance. d. Paid cash for equipment that cost . e. Purchased supplies for on account. 3. Summarize the journal entry effects from part 2 using T-accounts. 4. Prepare a trial balance at July 31. 5. Prepare a classified balance sheet at July 31.


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Solution: 4]Trial Balance at July 31:
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