On January 1, Lumia Company’s liabilities are $60,000 and its equity is $40,000. On January 3, Lumia purchases and installs solar panel assets costing $10,000. For the panels, Lumia pays $4,000 cash and promises to pay the remaining $6,000 in six months. What is the total of Lumia’s assets after the solar panel purchase?

$106,000

Explanation:

The formula for Asset is stated below.

Assets = Liabilities + Equity

Beginning $100,000 = $60,000 + $40,000

Change $6,000 = $6,000 +

$0

Ending $106,000 = $66,000 + $40,000

Therefore, the total of Lumia's assets after the solar panel purchase is $106,000

answer; (a) conduct a worksite inspection;

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.