confused

X Company, a merchandiser, had the following transactions in August: 1. Borrowed $21,000 from a bank. 2. Bought equipment costing $10,000, paying the manufacturer $6,000 in cash and promising to pay the remaining $4,000 next month. 3. Paid utility expenses of $5,561. 4. Purchased a $6,000, five-year insurance policy, paying for three years in advance. 5. Paid back a previous loan for $3,310. 7. If total liabilities on August 1 were $34,334, what were total liabilities on August 31 ? Tries 0/99 8. If total equities on August 1 were $71,367, what were total equities on August 31