Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

On August 1, Lola Company’s assets are $30,000 and its liabilities are $10,000. On August 4, Lola issues a sustainability report. On August 5, ownership invests $3,000 cash and $7,000 of equipment in Lola. After the investment, what is the amount of equity for Lola?

Sagot :

Parrain

Answer: $30,000

Explanation:

Before the investment, Equity was:

= Assets - Liabilities

= 30,000 - 10,000

= $20,000

The owner then invested $3,000 and $7,000 therefore making a total of $10,000.

Equity becomes

= 20,000 + 10,000

= $30,000

Ritmeks

The equity is $30,000

Lola's company assets are $30,000

The liabilities are $10,000

Equity= $30,000-$10,000

= $20,000

On August 5, ownership invests $3,000 in cash and $7,000 in equipment

= $3,000+$7,000

= $10,000

The amount of equity for Lola is

= $20,000+$10,000

= $30,000

Please see the link below for more information

https://brainly.com/question/4303134?referrer=searchResults

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.