Answer the following questions. Hint: Use the accounting equation a. On January 1, Lumia Company's liabilities are $71,000 and its equity is $51,000. On January 3, Lumia purchases and installs solar panel assets costing $21000. For the panels, Lumia pays $9,500 cash and promises to pay the remaining $11,500 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 $111,000 and its liabilities are $41,000. On March 5, ABX is fined $20,500 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 $41,000 and its liabilities are $21.000. On August 4, Lola issues a sustainability report On August 5, ownership invests $8.500 cash and $12,500 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 On January 1, Lumia Company's liabilities are $71,000 and its equity is $51,000. On January 3, Lumia purchases and installs solar panel assets costing $21,000. For the panels, Lumla pays $9,500 cash and promises to pay the remaining $11,500 in six months. What is the total of Lumia's assets after the solar panel purchase? Assets Liabilities Equity January 1 71,000 $ 51,000 Change January 3 + Required Required B Answer the following questions. Hint Use the accounting equation. a. On January 1, Lumia Company's liabilities are $71,000 and its equity is $51,000. On January 3, Lumia purchases and installs solar panel assets costing $21,000. For the panels, Lumia pays $9,500 cash and promises to pay the remaining $11,500 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 $111,000 and its liabilities are $41,000. On March 5, ABX is fined $20,500 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 $41,000 and its liabilities are $21,000. On August 4, Lola issues a sustainability report On August 5, ownership invests $8,500 cash and $12,500 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 $111,000 and its liabilities are $41,000. On March 5, ABX is fined $20,500 for failing emission standards. ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX? Equity Assets 111,000 Liabilities 41,000 $ March 1 Change March 5 11 Answer the following questions. Hint: Use the accounting equation a. On January 1, Lumia Company's abilities are $71,000 and its equity is $51,000. On January 3, Lumia purchases and installs solar panel assets costing $21,000. For the panels, Lumia pays $9,500 cash and promises to pay the remaining $11,500 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 $111,000 and its abilities are $41,000. On March 5, ABX is fined $20,500 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 $41,000 and its liabilities are $21,000. On August 4, Lola issues a sustainability report On August 5, ownership invests $8,500 cash and $12,500 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 $41,000 and its liabilities are $21,000. On August 4, Lola issues a sustainability report. On August 5, ownership invests $8,500 cash and $12,500 of equipment in Lola. After the investment, what is the amount of equity for Lola? Equity $ Assets Liabilities 41,000 - $ 21,000 August 1 Change August 5 ++
