Genesis company buys equipment for $900 machine on credit. this transaction will immediately affect the

Balance Sheet

This type of accounting reports gets its name from the way that the two sides of the condition above resources on the one side and liabilities in addition to investors' value on the other must offset. This is instinctive: an organisation needs to pay for every one of the things it claims (resources) by either acquiring cash (going up against liabilities) or taking it from financial specialists (issuing investors' value).