s 4 and 5 refer to the following information The following balance sheet is for X Company: Balance Sheet January 1, 2021 Assets Equities Cash $86,621 Accounts Payable Accounts Receivable 10,852 Wages Payable Inventory 151,412 Notes Payable Prepaid Rent 6,339 Paid-In Capital $220,576 1,135 33,976 249,942 Equipment 313,793 Retained Earnings 63,388 Total Assets $569,017 Total Equities $569,017 The following summary transactions occurred during 2021 borrowed $4,484 from the bank paid $29,930 for advertising sold merchandise for $478,312 on account and $225,088 for cash; the merchandise cost $400,938 paid $5,755 for land and equipment received $8,913 in cash contributions from new owners Note: For the questions below, ignore adjusting entries on December 31, 2021. 4. What was the cash balance on December 31, 20217 A: $289,421 8 $384,930 C $511,957 D: $680,903 : $905,600 F $1,204,449 Sutter Tries 0/991 5. What were total liabilities on December 31, 20217 A: $208,137 B: $260,171 C: $325,214 D: $406,517 E: $508,146 F $635,183 Sant Answer Tries 0/991 Questions 4 and 5 refer to the following information. The following balance sheet is for X Company: Assets Balance Sheet January 1, 2021 Equities Cash $86,621 Accounts Payable Accounts Receivable 10,852 Wages Payable Inventory 151.412 Notes Payable Prepaid Rent 6,339 Paid-In Capital Equipment Total Assets 313,793 $569,017 Total Equities Retained Earnings $220,576 1,135 33,976 249,942) 63,388 $569,017 The following summary transactions occurred during 2021: borrowed $4,484 from the bank paid $29,930 for advertising sold merchandise for $478,312 on account and $225,088 for cash; the merchandise cost $400,938 paid $5,755 for land and equipment received $8,913 in cash contributions from new owners Note: For the questions below, ignore adjusting entries on December 31, 2021. 4. What was the cash balance on December 31, 20217 A: $289,421 8: $364,930 C $511,957 D $680,903 : $905,600 Sub Anwer Tries 0/99 5. What were total liabilities on December 31, 2021 F: $1,204,449 A: $208,137 B: $260,171 C: $325,214 D: $406,517 $508,146 F: $635,183 Smit A Tries 0/99