please answer 8 Questions 7&8 refer to the following information: X Company, a merchandiser,...
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Accounting
please answer 8
Questions 7&8 refer to the following information: X Company, a merchandiser, had the following transactions in August: 1. Borrowed $20,000 from a bank. 2. Bought equipment costing $10,400, paying the manufacturer $5,400 in cash and promising to pay the remaining $5,000 next month. 3. Paid utility expenses of $5,694. 4. Purchased a $5,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,980. 7. If total liabilities on August 1 were $33,312, what were total liabilities on August 31 ? Answer Submitted: Your final submission will be Tries 1/99 graded after the due date. 8. If total equities on August 1 were $74,731, what were total equities on August 31
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please answer 8