Required information The following information applies to the questions displayed below) The transactions of Belle Company appear below. 1. D. Belle created a new business and invested $7,000 cash. $6,000 of equipment, and $13,100 in web servers in exchange for common stock 2. The company paid $4,700 cash in advance for prepaid Insurance coverage. 3. The company purchased $800 of supplies on credit 4. The company paid $700 cash for selling expenses 5. The company received $6,000 cash for services provided. 6. The company pold $800 cash toward accounts payable. 7. The company paid $3,900 cash for equipment, Fill in each of the following T-accounts for Belle Company's seven transactions listed here. The T-accounts represent Belle Company's general ledger. Code each entry with transaction number 1 through 7(in order) for reference. Cash Supplies Ending balance Ending balance Required information 5 Ending balance Ending balance Web Servers Accounts Payable 2 00:51:18 Ending balance Ending balance Common Stock Services Revenue Ending balance Ending balance Selling Expense Ending balance aw 1 D part 3.m4a part 2.m4a general ledger. Code each entry with transaction number 1 through 7 (in order) for reference. Cash Supplies Ending balance Ending balance Prepaid Insurance Equipment Ending balance Ending balance Web Servers Accounts Payable Ending balance Ending balance Common Stock Services Revenue Answer the following questions. Hint: Use the accounting equation. a. On January 1, Lumia Company's Mobilities are $80,000 and its equity is $60,000. On January 3, Lumin purchases and installs solar panel assets costing $30,000. For the panels, Lumia pays $14,000 cash and promises to pay the remaining $16,000 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 $120,000 and its liabilities are $50,000. On March 5, ABX is fined $25,000 for falling 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 $50,000 and its liabilities are $30,000. On August 4. Lolo issues a sustainability report on August 5, ownership invests $13,000 cash and $17,000 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 liabilities are $80,000 and its equity is $60,000. On January 3, Lumia purchases and installs solar panel assets costing $30,000. For the panels, Lumia pays $14,000 cash and promises to pay the remaining $16,000 in six months. What is the total of Lumia's assets after the solar panel purchase? Assets Liabilities $ 80,000 Equity 60,000 $ + January 1 Change January 3 + Require Required B > Answer the following questions. Hint: Use the accounting equation. a. On January 1, Lumia Company's liabilities are $80,000 and its equity is $60,000. On January 3, Lumla purchases and installs solar panel assets costing $30,000. For the panels, Lumia pays $14,000 cash and promises to pay the remaining $16,000 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 $120,000 and its liabilities are $50,000. On March 5, ABX is fined $25,000 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 $50,000 and its liabilities are $30,000. On August 4, Lola issues a sustainability report. On August 5, ownership invests $13,000 cash and $17,000 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 On March 1, ABX Company's assets are $120,000 and its liabilities are $50,000. On March ABX is fined $25,000 for failing emission standards. ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX? Equity Assets 120,000 Liabilities $ 50,000+ $ March 1 Change March 5 Answer the following questions. Hint: Use the accounting equation. a. On January 1, Lumia Company's liabilities are $80,000 and its equity is $60,000. On January 3, Lumia purchases and installs solar panel assets costing $30,000. For the panels, Lumia pays $14.000 cash and promises to pay the remaining $16,000 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 $120,000 and its liabilities are $50,000. On March 5, ABX is fined $25,000 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 $50,000 and its liabilities are $30,000. On August 4, Lola issues a sustainability report. On August 5, ownership invests $13,000 cash and $17,000 of equipment in Lols. 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 August 1, Lola Company's assets are $50,000 and its liabilities are $30,000. On August 4, Lola Issues a sustainability report. On August 5, ownership invests $13,000 cash and $17,000 of equipment in Lola. After the investment, what is the amount of equity for Lola? Equity Assets $ 50,000 Liabilities s 30,000 August 1 Change August 5
