I have to fill in the blanks but am confused on how to do so. 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 are listed below. Thecommon stock was $128,700 and the retained earnings were $66,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional$25,500 in stock.Accounts payable$2,000Miscellaneous Expense$1,050Accounts receivable10,340Office expense1,260Cash21,420Supplies1,670Fees earned72,800Wages expense23,380Land47,000Dividends15,900Building157,630Prepare a statement of stockholders' equity for the current year ended March 31. If a net loss is incurred or there is a decrease in stockholders' equity, enter that amountas a negative number using a minus sign. If an amount box does not require an entry, leave it blank.Thompson Computer ServicesStatement of Stockholders' EquityFor the Year Ended March 31CommonRetainedStockEarningsTotalBalances, April 166,000Issued common stock88,200154,200Net income47.21047,210Dividends-15,900-15,900Balances, March 31154,20031,310201,410

Name: I have to fill in the blanks but am confused on how to do so. The asse
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Description: I have to fill in the blanks but am confused on how to do so. 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 are listed below. Thecommon stock was $128,700

Stockholders' equity can be defined as the amount or the fund which is invested by the shareholders'…

Business

Accounting

Prepare a statement of stockholders' equity for the current year ended March 31. If a net loss is incurred or there is a decrease in stockholders' equity, enter that amoL as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.

Prepare a statement of stockholders' equity for the current year ended March 31. If a net loss is incurred or there is a decrease in stockholders' equity, enter that amoL as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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