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X Company, a manufacturer prepares monthly financial statements. On August 1, total equities were $113,686. The following transactions occurred during August Issued additional shares of
X Company, a manufacturer prepares monthly financial statements. On August 1, total equities were $113,686. The following transactions occurred during August Issued additional shares of stock for $100,000 Acquired $8,400 of direct materials, $3,696 of it paid for with cash, the rest bought on open account A one year rental agreement was signed for $7.400 per month. Rent for the first three months was paid in advance. Product sales were $114,000, 523,287 of which were on account the rest were cash sales. Product costs were 186,640 Paid wages and salaries of $10,917. Paid $23,349 to suppliers for materials that X Company had previously purchased on account Collected $23,287 from customers who had previously purchased products from X Company on account. What would total equities be on August 312 [ignore adjusting entries.]
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