Thea Gerona owns a massage spa and has the following accounts. She wanted to know her statement of financial position as of December 31, 2023. Total liabilities, 1/1/2023 Cash, 1/1/2023 Accounts receivable, 1/1/2023 Equipment, 12/31/2023 Net income during 2023 Gerona, Capital (12/31/2023) Investments during 2023 a) How much is Thea's investment for the year 2023? 48,000 120,000 30,000 95,000 19,000 96,000 39,000
Thea Gerona owns a massage spa and has the following accounts. She wanted to know her statement of financial position as of December 31, 2023. Total liabilities, 1/1/2023 Cash, 1/1/2023 Accounts receivable, 1/1/2023 Equipment, 12/31/2023 Net income during 2023 Gerona, Capital (12/31/2023) Investments during 2023 a) How much is Thea's investment for the year 2023? 48,000 120,000 30,000 95,000 19,000 96,000 39,000
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 20DQ
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Transcribed Image Text:Thea Gerona owns a massage spa and has the following accounts. She wanted to know her
statement of financial position as of December 31, 2023.
Total liabilities, 1/1/2023
Cash, 1/1/2023
Accounts receivable, 1/1/2023
Equipment, 12/31/2023
Net income during 2023
Gerona, Capital (12/31/2023)
Investments during 2023
a) How much is Thea's investment for the year 2023?
48,000
120,000
30,000
95,000
19,000
96,000
39,000
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