The balance sheet of Bravo Corporation contains the following list of assets: Cash $8,500,000; Land, $4,700,000;...
The balance sheet of Bravo Corporation contains the following list of assets: Cash $8,500,000; Land, $4,700,000; Buildings, $1,300,000; and Other Assets, $200,000. Bravo' only debt is $2,070,000 to a bank. How much will stockholders' equity change when Bravo borrows $300,000 to purchase equipment?
Homework Answers
Stockholder's equity=$8500000+$1300000+$4700000+$200000-$2070000=$12630000
Accounting Equation
Assets = Liabilities + Owner's equity.
Journal entry
1) Cash $300000
Payable $300000
2)Equipment $300000
Cash $300000
By analyse journal entry we can conclude that there is no effect on stockholder's equity
Effect of this transaction will be
Asset = Liability +Equity
$300000 = $300000 + 0
(
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The balance sheet of Bravo Corporation contains the following
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