Tom Tylor & Dick Davidson go into business together as a partnership (named as Tom&Dick LLP), selling computer software through the internet.On January 1, they each put in $6,000 as capital, and this goes into the Tom&Dick account at their local bank.They buy computer equipment for $10,000 (paid by cheque) and set up for business in Dick's dad's basement.At this point the accounting equation is:

Select one:

assets: $12,000; liabilities: $0; equity: $12,000

assets: $8,000; liabilities: $0; equity: $8,000

None of the options is correct

assets: $2,000; liabilities: $10,000; equity: $8,000

assets: $10,000; liabilities: $0; equity: $10,000