Total assets at the beginning of the year were 13183 what

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X company, a merchandising company, had the following transactions during the year:

1 Received $ 8175 in cash contributions from the owners.

2 Purchased $8402 worth of merchandise on account from suppliers.

3 Sold merchandise on account to customers for $10777; the merchandise cost X company $ 7544

4 Paid $ 3369 to suppliers for merchandise that X company had previously purchased on account.

5 Collected $3175 from customers who had previously purchased merchandise on account.

6 Bought equipment for $10370 with a down payment of $5963 and a $4407 loan from the bank.

7 paid wages of $1141.

8 Recognized the expiration of $544 of prepaid rent.

Total assets at the beginning of the year were $13183. what were total assets at the end of the year(ignore depreciation on the equipment and interest on the loan.

Reference no: EM13579381

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