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Mr. Cool Dude started a company (Cool Dude Company) by contributing $50,000 cash, and a building valued at $400,000. The company then purchased a machine

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Mr. Cool Dude started a company (Cool Dude Company) by contributing $50,000 cash, and a building valued at $400,000. The company then purchased a machine by making a $50,000 down payment (which accounted for half its purchase price), and signed a note payable to the bank. After recording the above transactions, the company's balance sheet will show: O Assets Liabilities 500,000$50,000 $450,000 O Assets Liabilities O Assets Assets Stockholders' Equity 20

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