amm91
Dec 16, 2011, 02:53 PM
X Company, a manufacturer, had the following transactions during the year:
1.Borrwed $8,942 from a bank.
2.Paid rent in advance of $5,500.
3.Bought equipment for $9,653 with a down payment of $5,323 and a loan of $4,330.
4.Bought $8,102 of materials on account from suppliers.
5.Sold products to customers, on account, for $10,178; the products cost $8,142 to manufacture.
6.Collected $3,356 from customers who had previously bought products on account.
7.Paid wages of $1,097.
8.Paid $3,258 to suppliers for materials that had previously been bought on account.
9.Repaid a bank loan for $3,330.
10.Recorded (but didn't pay) $126 of interest on a bank loan.
11.Recorded $1,850 of depreciation.
If total equities at the beginning of the year were $13,108, what were total equities at the end of the year?
1.Borrwed $8,942 from a bank.
2.Paid rent in advance of $5,500.
3.Bought equipment for $9,653 with a down payment of $5,323 and a loan of $4,330.
4.Bought $8,102 of materials on account from suppliers.
5.Sold products to customers, on account, for $10,178; the products cost $8,142 to manufacture.
6.Collected $3,356 from customers who had previously bought products on account.
7.Paid wages of $1,097.
8.Paid $3,258 to suppliers for materials that had previously been bought on account.
9.Repaid a bank loan for $3,330.
10.Recorded (but didn't pay) $126 of interest on a bank loan.
11.Recorded $1,850 of depreciation.
If total equities at the beginning of the year were $13,108, what were total equities at the end of the year?