Prepare a balance sheet for Thompson Computer Services for the current year ended March 31.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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 $192,300 at April 1,
the beginning of the current year. Mr. Thompson invested an additional $15,600 in the business during the year.
$1,200
Miscellaneous expense
$470
9,860
Office expense
300
34,100
Supplies
1,670
75,730 Wages expense
26,330
45,700
Drawing
4,000
162,400
Accounts payable
Accounts receivable
Cash
Fees earned
Land
Building
Prepare a balance sheet for Thompson Computer Services for the current year ended March 31.
Thompson Computer Services
Total assets
Balance Sheet
March 31
Assets
Liabilities
Owner's Equity
Total liabilities and owner's equity
Transcribed Image Text: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 $192,300 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,600 in the business during the year. $1,200 Miscellaneous expense $470 9,860 Office expense 300 34,100 Supplies 1,670 75,730 Wages expense 26,330 45,700 Drawing 4,000 162,400 Accounts payable Accounts receivable Cash Fees earned Land Building Prepare a balance sheet for Thompson Computer Services for the current year ended March 31. Thompson Computer Services Total assets Balance Sheet March 31 Assets Liabilities Owner's Equity Total liabilities and owner's equity
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