Help answer multiple-choice questions 1&2 with explanation please

X Company, a manufacturer, prepares monthly financial statements. On August 1, total assets were $116,495. The following transactions occurred during August: . Issued additional shares of stock for $103,000. Acquired $8,300 of direct materials, $4,067 of it paid for with cash, the rest bought on open account. A one year rental agreement was signed for $7,300 per month. Rent for the first two months was paid in advance. Product sales were $125,000, $23,009 of which were on account; the rest were cash sales. Product costs were $87,500. Paid wages and salaries of $11,097. Paid $23,016 to suppliers for materials that X Company had previously purchased on account. Collected $23,009 from customers who had previously purchased products from X Company on account. What would total assets be on August 31? [Ignore adjusting entries.] A: $200,987| O B: $227,115 C: $256,640 OD: $290,003 O E: $327,704 OF: $370,305 X Company, a merchandiser, prepares monthly financial statements. On September 30, its accountant made adjusting entries to record: - $5,983 of September interest on a bank loan to be paid in October $1,512 of wages that were earned by employees in September but to be paid in October $4,502 of rent and insurance for September that was prepaid on September 1 but had expired - $3,806 of depreciation on factory equipment a $2,761 September utility bill received in September, to be paid in October What would be the effect of these entries on Net Income in September? A: $-9,505 B: $-11,881 C: $-14,851 D: $-18,564 E: $-23,205 F: $-29,006