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 $123,600 and the retained earnings were $62,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,400 in stock. Accounts payable $2,000 Miscellaneous Expense $1,040 Accounts receivable 10,340 Office expense 1,230 Cash 21,420 Supplies 1,670 Fees earned 73,160 Wages expense 23,790 Land 47,000 Dividends 15,000 Building 157,630 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' eguity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank. Thompson Computer Services Statement of Stockholders' Equity For the Year Ended March 31 Common Retained Stock Earnings Total Balances, April 1 123,600 62,000 185,600 Issued common stock 25,400 25,400 Net income Dividends -15,000 -15,000 Balances, March 31 149,000

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 $123,600 and the retained earnings were $62,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,400 in stock. Accounts payable $2,000 Miscellaneous Expense $1,040 Accounts receivable 10,340 Office expense 1,230 Cash 21,420 Supplies 1,670 Fees earned 73,160 Wages expense 23,790 Land 47,000 Dividends 15,000 Building 157,630 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' eguity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank. Thompson Computer Services Statement of Stockholders' Equity For the Year Ended March 31 Common Retained Stock Earnings Total Balances, April 1 123,600 62,000 185,600 Issued common stock 25,400 25,400 Net income Dividends -15,000 -15,000 Balances, March 31 149,000

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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