30 Answer the following questions Hint Use the accounting equation a. On January 1, Lumia Company's liabilities are $68,000 and its equity is $48,000. On January 3, Lumia purchases and installs solar panel assets costing $18,000. For the panels, Lumia pays $8,000 cash and promises to pay the remaining $10,000 in six months. What is the total of Lumia's assets after the solar panel purchase? b. On March 1, ABX Company's assets are $108,000 and its liabilities are $38,000. On March 5, ABX is fined $19,000 for failing emission standards ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX? c. On August 1, Lola Company's assets are $38,000 and its liabilities are $18,000. On August 4, Lola issues a sustainability report On August 5, ownership invests $7,000 cash and $11,000 of equipment in Lola. After the investment, what is the amount of equity for Lola? Complete this question by entering your answers in the tabs below. Required A Required B Required C On January 1, Lumia Company's abilities are $66,000 and its equity is $48,000. On January 3, Lumia purchases and installs solar panel assets costing $18,000. For the panels, Lumia pays $8,000 cash and promises to pay the remaining $10,000 in six months. What is the total of Lumia's assets after the solar panel purchase? Assets Liabilities January 1 Change $ 68,000+ $ Equity 48,000 + January 3 Required B> 47 29.09 a. On January 1 Lumia Company's liabilities are $68,000 and its equity is $48,000. On January 3, Lumia purchases and installs solar panel assets costing $18,000. For the panels, Lumia pays $8,000 cash and promises to pay the remaining $10,000 in six months. What is the total of Lumia's assets after the solar panel purchase? b. On March 1, ABX Company's assets are $108,000 and its liabilities are $38,000. On March 5, ABX is fined $19,000 for failing emission standards ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX? c. On August 1, Lola Company's assets are $38,000 and its liabilities are $18,000. On August 4, Lola issues a sustainability report On August 5, ownership invests $7,000 cash and $11,000 of equipment in Lola. After the investment, what is the amount of equity for Lola? Complete this question by entering your answers in the tabs below. Required A Required B Required C On March 1, ABX Company's assets are $100,000 and its abilities are $38,000. On March 5, ABX is fined $19,000 for failing emission standards ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX? Assets Liabilities Equity March 1 $ 108.000 $ 38,000+ Change March 5 20 1 cons 012849 Answer the following questions Hint: Use the accounting equation a. On January 1, Lumia Company's liabilities are $68,000 and its equity is $48,000. On January 3, Lumia purchases and installs solar panel assets costing $18,000. For the panels, Lumia pays $8,000 cash and promises to pay the remaining $10,000 in six months. What is the total of Lumia's assets after the solar panel purchase? b. On March 1, ABX Company's assets are $108,000 and its liabilities are $38,000. On March 5, ABX is fined $19,000 for failing emission standards ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX? c. On August 1, Lola Company's assets are $38,000 and its liabilities are $18,000 On August 4, Lola issues a sustainability report. On August 5, ownership invests $7.000 cash and $11,000 of equipment in Lola After the investment, what is the amount of equity for Lola Complete this question by entering your answers in the tabs below. Required A Required B Required C On August 1, Lola Company's assets are $30,000 and its Kabilities are $10,000. On August 4, Lola issues a sustainability report. On August 5, ownership invests $7,000 cash and $11,000 of equipment in Lola. After the investment, what is the amount of equity for Lola? Avets August 1 30000 $ Labilities . 18,000 Equity Change Augu5 2 Determine the missing amount from each of the separate situations given below. 20 points 8012822 Assets Liabilities + Equity M $ 93,000+ $ 33,000 2 $130,000= $ 38,000+ 3 $ 147,000- + $ 62,000 3 Part 1 of 3 20 Darts 0128 16 Required information [The following information applies to the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting On December 3, the owner contributed $83,110 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts Cash Accounts receivable office supplies $ 14,550 Cash dividends 12,940 Consulting revenue 2,400 Rent expense $1,120 12,940 2,640 17,020 Salaries expense 5,920 45,660 Telephone expense 600 Accounts payable Common stock 7,820 Miscellaneous expenses 83,110 620 office equipment Land Using the above information prepare a December income statement for the business ERNST CONSULTING Income Statement 4 Required information Part 2 of 3 20 points 012749 The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting On December 3, the owner contributed $83,110 in assets in exchange for its common stock to launch the business On December 31, the company's records show the following items and amounts Cash Accounts receivable Office supplies office equipment Land Accounts payable Common stock $ 14,550 Cash dividends 12,940 Consulting revenue 2,400 Rent expense 17,020 Salaries expense $ 1,120 12,940 2,640 5,920 800 7,020 Miscellaneous expenses, 83,110 620 45,860 Telephone expense Using the above information prepare a December statement of retained earnings for Ernst Consulting Hint: Retained Earnings on December 1 was $0 ERNST CONSULTING Statement of Retained Earning Retained eamings, December 1 $ 0 5 Part 3 of a 20 pos 012736 Required information [The following information applies to the questions displayed below] On December 1, Jasmin Ernst organized Ernst Consulting On December 3, the owner contributed $83.110 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts Cash Accounts receivable Office supplies office equipment Land Accounts payable Common stock $ 14,550 Cash dividends 12,940 Consulting revenue 2,400 Rent expense 17,020 salaries expense 45,860 Telephone expense 7,920 Niscellaneous expenses 83,110 Use the above information to prepare a December 31 balance sheet for Ernst Consulting ERNST CONSULTING $ 1,120 12,940 2,640 5,920 800 620 Balance Sheet