Answer:
Assets will increase by $82,000 and liabilities will increase by $82,000
Explanation:
The Accounting Equation of the Accounts is as:
Assets = Liabilities + Owners Equity
where
Assets worth $614,000
Liabilities worth $257,000
Equity worth $357,000
$614,000 = $257,000 + $357,000
So, the equipment is bought on credit worth $82,000, it will result in increase in the assets because of purchase as well as increase in liabilities as purchased on credit by the amount of $82,000.
