Question
X Company, a merchandising company, had the following transactions during the year: 1. Received $8,291 in cash contributions from the owners 2. Purchased $8,294 worth
X Company, a merchandising company, had the following transactions during the year:
1. Received $8,291 in cash contributions from the owners
2. Purchased $8,294 worth of merchandise on account from suppliers
3. Sold merchandise on account to customers for $12,180; the merchandise cost X Company $8,526
4. Paid $3,456 to suppliers for merchandise that X company had previously purchased on account.
5. Collected $3,837 from customers who had previously purchased merchandise on account
6. Bought equipment for $9,822 with a down payment of $5,618 and a $4,204 loan from the bank
7. Paid wages of $1,175
8. Recognized the expiration of $583 of prepaid rent
39) If total equities at the beginning of the year were 14,759, what were total equities at the end of the year?
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