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    bibi35's Avatar
    bibi35 Posts: 1, Reputation: 1
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    #1

    Sep 28, 2010, 09:24 AM
    Preparing a balance sheet
    Purchase a building for 240,000, Owner invest 70,000 and business paid 170,000, How do I enter this transaction to balance sheet?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Sep 28, 2010, 10:06 AM

    Debit Building for the amount
    Credit Cash for the amount paid
    Credit Owners' Equity for the amount invested
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