Question
PLEASE ANSWER IN CHART FORM EXACTLY LIKE QUESTION a. On January 1, Lumia Companys liabilities are $65,000 and its equity is $45,000. On January 3,
PLEASE ANSWER IN CHART FORM EXACTLY LIKE QUESTION a. On January 1, Lumia Companys liabilities are $65,000 and its equity is $45,000. On January 3, Lumia purchases and installs solar panel assets costing $15,000. For the panels, Lumia pays $6,500 cash and promises to pay the remaining $8,500 in six months. What is the total of Lumias assets after the solar panel purchase? b. On March 1, ABX Companys assets are $105,000 and its liabilities are $35,000. On March 5, ABX is fined $17,500 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 Companys assets are $35,000 and its liabilities are $15,000. On August 4, Lola issues a sustainability report. On August 5, ownership invests $5,500 cash and $9,500 of equipment in Lola. After the investment, what is the amount of equity for Lola?
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