The assets and liabilities of Thompson Computer Services at March 31, 2014, and its revenue and expenses for the year are listed below. The capital of the owner was $180,000 at April 1, 2013. Mr. Thompson invested an additional $25,000 in the business during the year. Accounts Payable $2,000 Miscellaneous Expense $1,030 Accounts Receivable 10,340 Office Expense 1,240 Cash 21,420 Supplies 1,670 Fees Earned 73,450 Wages Expense 23,550 Land 47,000 Drawing 16,570 Building 157,630

The assets and liabilities of Thompson Computer Services at March 31, 2014, and its revenue and expenses for the year are listed below. The capital of the owner was $180,000 at April 1, 2013. Mr. Thompson invested an additional $25,000 in the business during the year. Accounts Payable $2,000 Miscellaneous Expense $1,030 Accounts Receivable 10,340 Office Expense 1,240 Cash 21,420 Supplies 1,670 Fees Earned 73,450 Wages Expense 23,550 Land 47,000 Drawing 16,570 Building 157,630

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Description: The assets and liabilities of Thompson Computer Services at March 31, 2014, and its revenue and expenses for the year are listed below. The capital of the owner was $180,000 at April1, 2013. Mr. Thompson invested an additional $25,000 in the busines

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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