Tim contributes capital into his business.The two accounts affected are:

Name: Tim contributes capital into his business.The two accounts affected are:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When Tim contributes capital into his business, he increases the amount of assets available to the business (cash or other assets) and also increases the amount of the owner's equity. Therefore, the two accounts affected are an asset (cash or other asset) account and an owner's equity account.

Tim Contributes Capital into His Business