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What was the opening balance of net assets

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Problem - Esther made a profit for the year of $345,687 and has closing net assets of $435,195. During the financial year, capital of $60,000 was introduced which consisted of $40,000 in cash and $20,000 in non-current assets. Drawings of $6,000 were taken out of the business each month.

Required - What was the opening balance of net assets?

A. $35,508

B. $121,508

C. $768,882

D. $101,508

Reference no: EM132830205

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