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QUESTION 3 (4 marks) White Rock Corporation provided you with the following information for the month of July 2021: Total non-current assets on 1st July
QUESTION 3 (4 marks) White Rock Corporation provided you with the following information for the month of July 2021: Total non-current assets on 1st July 2021 $110,000 Total liabilities on 1st July 2021 $130,000 Total current assets on 1st July 2021 $95,000 Total assets on 31st July 2021 $260,000 Total revenues for the month of July 2021 $120,000 Total expenses for the month of July 2021 $80,000 Total cash receipts for the month of July 2021 $66,500 The owners contributed additional $20,000 capital to the business on 19th July 2021. The owners took home some office supplies worth $700 for personal use on 25th July 2021. Required: Calculate White Rock Corporation's TOTAL OWNER'S EQUITY on 31st July 2021. (4 marks) Answer here
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