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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 common stock was $120,000 and the retained earnings was $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock $2,000 10,340 21,420 73,450 Accounts payable Accounts receivable Cash Fees earned Land building Miscellaneous expense Office expense Supplies Wages expense Dividends 47,000 157,630 1,030 1,240 1,670 23,550 16,570 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 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 Line Item Description Stock Earnings Total 1000

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 common stock was $120,000 and the retained earnings was $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock $2,000 10,340 21,420 73,450 Accounts payable Accounts receivable Cash Fees earned Land building Miscellaneous expense Office expense Supplies Wages expense Dividends 47,000 157,630 1,030 1,240 1,670 23,550 16,570 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 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 Line Item Description Stock Earnings Total 1000

FINANCIAL ACCOUNTING
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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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 common stock was $120,000 and the retained earnings was $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock Accounts payable $2,000 Accounts receivable 10,340 Cash 21,420 Fees earned Land Building Miscellaneous expense Office expense Supplies Wages expense Dividends 73,450 47,000 157,630 1,030 1,240 1,670 23,550 16,570 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 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 Line Item Description Common Retained Stock Earnings Total
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 common stock was $120,000 and the retained earnings was $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock Accounts payable $2,000 Accounts receivable 10,340 Cash 21,420 Fees earned Land Building Miscellaneous expense Office expense Supplies Wages expense Dividends 73,450 47,000 157,630 1,030 1,240 1,670 23,550 16,570 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 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 Line Item Description Common Retained Stock Earnings Total
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 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 Line Item Description Common Retained Stock Earnings Total 100001
Transcribed Image Text: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 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 Line Item Description Common Retained Stock Earnings Total 100001
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