Complete the accounting equation on january 1, 2023

Reference no: EM133654337

Question: Internet Marketing Inc. (IMI), which has been operating for three years, provides marketing consulting services worldwide for online companies. You are a financial analyst assigned to report on the effectiveness of IMI's management team at managing its assets. At the start of 2023 (its fourth year), IMI's T-account balances were as follows. Amounts are in thousands of dollars. Assets: Cash 3,200 Accounts Receivable 8,000 Long-Term Investments 6,400 Liabilities: Accounts Payable 2,400 Deferred Revenue 5,600 Long-Term Debt 1,600 Shareholders' Equity: Contributed Capital 4,800 Retained Earnings 3,200 Revenue: Consulting Fee Revenue Investment Income Expense: Wages Expense Travel Expense Utilities Expense Rent Expense Required: 1. Using the data from these T-accounts, complete the accounting equation on January 1, 2023.

Reference no: EM133654337

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