Jamie Reckons That the Tools He Already Owned Which He

Multiple Choice

Jamie reckons that the tools he already owned which he will use for the business had cost are worth £500. How should these be dealt with?

A) They are irrelevant as they are Jamie's and do not belong to the business
B) As an increase in the assets of the business as they will be used or the business
C) As an increase in the assets of the business as they will be used or the business with a corresponding increase in the liabilities of the business
D) As an increase in the assets of the business as they will be used or the business with a corresponding increase in the owners' equity