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September 2, 2015

Homework Help: accounting

Posted by sue on Monday, November 30, 2009 at 9:54pm.

using the equation A=L+OE how would you balance this problem: You buy acompany for $200,000 - Assets are land $50,000, building $130,000, equip $20,000. Took 70,000 from personal bank account to invest in business. Made a down payment of $40,000 and deposited the rest in the business bank account. A long term loan was obtain for the balance purchase price. List how you would set up a balance sheet.

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