Answered

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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

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