What would be the effect of these entries on total equities

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Questions 1 and 2 refer to the following information:$5,593 of April interest on a bank loan to be paid in May X Company, a merchandiser, prepares monthly financial statements. On April 30, its accountant made adjusting entries to record:

$1,521 of wages that were earned by employees in April but to be paid in May
$4,776 of rent and insurance for April that was prepaid on April 1 but had expired
$3,989 of depreciation on factory equipment
a $2,874 April utility bill received in April, to be paid in May
a shipment of products in April for which customers paid $1,270 in March

1. What would be the effect of these entries on total equities in April?

2. What would be the effect of these entries on total liabilities in April?

Reference no: EM132851178

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