The balance sheet of Horizon Ventures contains the following list of assets: Cash: $6,000,000 Land: $5,500,000 Buildings: $3,200,000 Other Assets: $1,000,000 Horizon Ventures' only debt is $4,000,000 to a bank. How much will stockholders' equity change when Horizon borrows $500,000 to purchase equipment?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
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Provide correct answer the accounting question

The balance sheet of Horizon Ventures contains the following list of
assets:
Cash: $6,000,000
Land: $5,500,000
Buildings: $3,200,000
Other Assets: $1,000,000
Horizon Ventures' only debt is $4,000,000 to a bank. How much will
stockholders' equity change when Horizon borrows $500,000 to
purchase equipment?
Transcribed Image Text:The balance sheet of Horizon Ventures contains the following list of assets: Cash: $6,000,000 Land: $5,500,000 Buildings: $3,200,000 Other Assets: $1,000,000 Horizon Ventures' only debt is $4,000,000 to a bank. How much will stockholders' equity change when Horizon borrows $500,000 to purchase equipment?
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