2. EX.01.260.ALGO The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year follow. The capital of the owner was $191,900 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,500 in the business during the year. Accounts payable $1,200 Miscellaneous expense $450 Accounts receivable 8,970 Office expense 420 Cash 33,190 Supplies 1,670 Fees earned 74,530 Wages expense 29,140 Land 47,500 Drawing 6,500 Building 154,290 Prepare a balance sheet for Thompson Computer Services for the current year ended March 31. Thompson Computer Services Balance Sheet March 31 Assets $fill in the blank 2 fill in the blank 4 fill in the blank 6 fill in the blank 8 fill in the blank 10 Total assets $fill in the blank 11 Liabilities $fill in the blank 13 Owner's Equity fill in the blank 15 Total liabilities and owner's equity $fill in the blank 16
2. EX.01.260.ALGO The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year follow. The capital of the owner was $191,900 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,500 in the business during the year. Accounts payable $1,200 Miscellaneous expense $450 Accounts receivable 8,970 Office expense 420 Cash 33,190 Supplies 1,670 Fees earned 74,530 Wages expense 29,140 Land 47,500 Drawing 6,500 Building 154,290 Prepare a balance sheet for Thompson Computer Services for the current year ended March 31. Thompson Computer Services Balance Sheet March 31 Assets $fill in the blank 2 fill in the blank 4 fill in the blank 6 fill in the blank 8 fill in the blank 10 Total assets $fill in the blank 11 Liabilities $fill in the blank 13 Owner's Equity fill in the blank 15 Total liabilities and owner's equity $fill in the blank 16
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2. EX.01.260.ALGO
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year follow. The capital of the owner was $191,900 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,500 in the business during the year.
| Accounts payable | $1,200 | Miscellaneous expense | $450 | |
| 8,970 | Office expense | 420 | ||
| Cash | 33,190 | Supplies | 1,670 | |
| Fees earned | 74,530 | Wages expense | 29,140 | |
| Land | 47,500 | Drawing | 6,500 | |
| Building | 154,290 |
Prepare a
| Thompson Computer Services | |
| Balance Sheet | |
| March 31 | |
| Assets | |
| $fill in the blank 2 | |
| fill in the blank 4 | |
| fill in the blank 6 | |
| fill in the blank 8 | |
| fill in the blank 10 | |
| Total assets | $fill in the blank 11 |
| Liabilities | |
| $fill in the blank 13 | |
| Owner's Equity | |
| fill in the blank 15 | |
| Total liabilities and owner's equity | $fill in the blank 16 |
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