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yo what up everybody?? Jonathan N. Dorn, CPA . You know the strongest CPA in the state of Florida. today we are going to add an asset on your books. so, over here I have a Balance Sheet. As it stands, before we had added anything on here. You know that. ( Assets = Liabilities + Equity ) thats the basic accounting equation. but anyways, all we have for Assets. keep it simple as cash for $50,000. ok, total Assets $50,000 now, this is a typical Balance Sheet ( Assets = Liabilities + Equity ). so 50,000 total Assets. We have Liabilities a loan from the shareholder. $10,000 The Equity, we have retained earnings 20,000 They income 20,000 Total Liabilities and Equity 50,000 So, thats what we have on our Balance Sheet So 50,000 and 50,000 now, we buy a truck, were gonna buy a truck for $30,000 so how do you put it on your books?? you know how do you get it on there well of course over here i have my DC/ADE/LER if you dont know what that is watch my before videos,