Setting up loans

[Errol Siegel]

Let me first describe the situation:

I purchased a home a few years ago.  Since that time I
have had the home appraised and it has risen in value.
 I took out a loan to buy the home.

Even though all these things happened a few years ago,
I don't want to go back and try to enter all the old
transactions.

>From what I've read, it seems that the correct way to
describe this in accounting terms is as follows:

House -> Asset
Unrealized Gain -> Asset
Loan -> Liability

I have the current balances for these three accounts.

The question is: since the original transactions
happened far in the past, what accounts do I set up so
that eveything balances?  Do I set up three equity
accounts (for the house, unrealized gain, and loan)
and transfer from the equity accounts to the asset and
liability accounts?

Thanks,
Errol
errol@bitterkitten.com

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