On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks.

The following transaction occurred during the first month of operations, please indicate what's the effect on the accounting equation:

September	Description	Amount
1	Opened a business bank account with $50,000 of his own personal savings	$	50,000

Multiple Choice

Decrease assets and decrease liabilities

None of the other alternatives are correct

Increase and decrease assets

Increase assets and increase liabilities

Increase assets and increase Owner's equity