Solar Panel Purchase Assignment
February 18th, 2020
Connect humi 0 Chech in equipment in exchange for ownership 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 $72,000 and its equity is $52,000. On January 3, Lumia purchases and installs solar panel assets costing 22,000.
For the panels, Lumia pays $10,000 cash and promises to pay the remaining $12,000 in six months. What is the total of Lumia's assets after the solar panel purchase? Assets 124,000 – 12,000 Liabilities $ 72,000+ Beginnings Equity 52,000 $ Change Ending Required B > < Prev 11 of 12 !!Get Accounting homework help today