mer Notes Evaluate * Company, a manufacturer, prepares monthly financial statements. On January 1, total...
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mer Notes Evaluate * Company, a manufacturer, prepares monthly financial statements. On January 1, total equities were $118,497. The following transactions occurred during January Issued additional shares of stock for $106,000. Acquired $8,500 of direct materials, $3,740 of it paid for with cash, the rest bought on open account. . A one year rental agreement was signed for $5,600 per month. Rent for the first two months was paid in advance. Product sales were $118,000, $23,513 of which were on account; the rest were cash sales. Product costs were $70,800. Paid wages and salaries of $11,508 Pald $23,539 to suppliers for materials that X Company had previously purchased on account. Collected $23,513 from customers who had previously purchased products from X Company on account. What would total equities be on January 31? [Ignore adjusting entries.) OA: $131,028 B: $148,061 OC: $167,309 OD: $189,059 OE: $213,637 OF: $241,410
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