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QUESTION 3 (3 + 1 = 4 marks) Goldman Corporation provided you with the following information for the month of January 2021: Total assets on

QUESTION 3 (3 + 1 = 4 marks)

Goldman Corporation provided you with the following information for the month of January 2021:

Total assets on 1st January 2021

$230,000

Total liabilities on 1st January 2021

$120,000

Total cash inflows for the month of January 2021

$85,000

Total assets on 31st January 2021

$250,000

Total revenues for the month of January 2021

$130,000

Total expenses for the month of January 2021

$90,000

Total cash at bank on 31st January 2021

$77,500

The owners contributed additional $30,000 capital to the business on 9th January 2021.

The owners took home some office supplies worth $1,000 for personal use on 26th January 2021.

Required:

Calculate Goldman Corporations TOTAL OWNERS EQUITY on 31st January 2021.

(3 marks)

Answer here:

Total Owners Equity on 31st January 2021:

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