Question
Robert decides to actually set up his business. He has $30,000 in his business account. He decides to buy some baking equipment for his catering,
Robert decides to actually set up his business. He has $30,000 in his business account. He decides to buy some baking equipment for his catering, so that he can bake various foods. The equipment costs $13,000. He pays for the equipment in cash.
What happens to the accounting equation in this scenario?
What would happen if he borrowed the money for the equipment?
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Intermediate Accounting
Authors: Fred Skousen, James Stice, Earl Kay Stice
14th Edition
0324013078, 9780324013078
