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 $119,300 and the retained earnings were $68,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,800 in stock. Accounts payable $2,000 Miscellaneous Expense $1,030 Accounts receivable 10,340 Office expense 1,290 Cash 21,420 Supplies 1,670 Fees earned 73,210 Wages expense 23,470 Land 47,000 Dividends 16,000 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' 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 Stock Retained Earnings Total Balances, April 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Issued common stock fill in the blank 6 fill in the blank 7 fill in the blank 8 Net income fill in the blank 10 fill in the blank 11 fill in the blank 12 Dividends fill in the blank 14 fill in the blank 15 fill in the blank 16 Balances, March 31 $fill in the blank 18 $fill in the blank 19 $fill in the blank 20

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

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 $119,300 and the retained earnings were $68,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,800 in stock.

Accounts payable	$2,000	Miscellaneous Expense	$1,030
Accounts receivable	10,340	Office expense	1,290
Cash	21,420	Supplies	1,670
Fees earned	73,210	Wages expense	23,470
Land	47,000	Dividends	16,000
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' 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 Stock	Retained Earnings	Total
Balances, April 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4
Issued common stock	fill in the blank 6	fill in the blank 7	fill in the blank 8
Net income	fill in the blank 10	fill in the blank 11	fill in the blank 12
Dividends	fill in the blank 14	fill in the blank 15	fill in the blank 16
Balances, March 31	$fill in the blank 18	$fill in the blank 19	$fill in the blank 20

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions