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If Carnival Corporation borrows $250 million, assets in the form of cash increase $250 million and liabilities in the form of a note payable increase $250 million. If the company uses the money to buy a ship, assets in the form of ships increase $250 million and assets in the form of cash decrease $250 million.

2. Cash	250,000,000
Notes Payable		250,000,000
Ships	250,000,000
Cash		250,000,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91624902

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