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. The common stock was $123,400and the retained earnings were $62,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,600 in stock.Accounts payable$2,000Miscellaneous Expense$1,000Accounts receivable10,340Office expense1,250Cash21,420Supplies1,670Fees earned73,380Wages expense23,270Land47,000Dividends14,200Building157,630 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 amount as a negative numberusing 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 1Issued common stock149,000Net income47,86047,860-14,200-14,200DividendsBalances, March 31$4PreviousNext

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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 are listed below. The common stock was $123,400 and the retained earnings were $62,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,600 in stock. Accounts payable $2,000 Miscellaneous Expense $1,000 Accounts receivable 10,340 Office expense 1,250 Cash 21,420 Supplies 1,670 Fees earned 73,380 Wages expense 23,270 Land 47,000 Dividends 14,200 Building 157,630

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. The common stock was $123,400 and the retained earnings were $62,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,600 in stock. Accounts payable $2,000 Miscellaneous Expense $1,000 Accounts receivable 10,340 Office expense 1,250 Cash 21,420 Supplies 1,670 Fees earned 73,380 Wages expense 23,270 Land 47,000 Dividends 14,200 Building 157,630

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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