If I start a business and provide a computer worth $3600, how do I account for this? [Archive]

pieromaldi

Apr 10, 2010, 02:04 PM

I know the Assets are increased by $3600 but how is this balanced? I assume the equity is increased by the same amount. IS this correct?
Thanks

pready

Apr 15, 2010, 12:45 PM

Your accounts will be Equipment and Owners Equity.