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 $119,400 and the retained earnings were $56,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,600 in stock. Accounts payable $1,820 Miscellaneous expense $1,050 Accounts receivable 10,380 Office expense 1,220 Cash 18,830 Supplies 1,670 Fees earned 71,830 Wages expense 22,970 Land 45,400 Dividends 16,430 Building 155,800 Prepare a balance sheet for the current year ended March 31.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Prepare a balance sheet for the current year ended March 31.
Thompson's Computer Services
Balance Sheet
March 31
Assets
Cash
Accounts receivable
Supplies
Land
Building
Total assets
Liabilities
Accounts payable
Stockholders' Equity
Common stock
Retained earnings
Total liabilities and stockholders' equity $
Transcribed Image Text:Prepare a balance sheet for the current year ended March 31. Thompson's Computer Services Balance Sheet March 31 Assets Cash Accounts receivable Supplies Land Building Total assets Liabilities Accounts payable Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $
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 $119,400 and the retained earnings were $56,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional
$24,600 in stock.
Accounts payable
$1,820
Miscellaneous expense
$1,050
Accounts receivable
10,380
Office expense
1,220
Cash
18,830
Supplies
1,670
Fees earned
71,830
Wages expense
22,970
Land
45,400
Dividends
16,430
Building
155,800
Prepare a balance sheet for the current year ended March 31.
Thompson's Computer Services
Balance Sheet
March 31
Assets
Cash
Accounts receivable
Supplies
Land
Building
Total assets
Liabilities
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 are listed below. The common stock was $119,400 and the retained earnings were $56,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,600 in stock. Accounts payable $1,820 Miscellaneous expense $1,050 Accounts receivable 10,380 Office expense 1,220 Cash 18,830 Supplies 1,670 Fees earned 71,830 Wages expense 22,970 Land 45,400 Dividends 16,430 Building 155,800 Prepare a balance sheet for the current year ended March 31. Thompson's Computer Services Balance Sheet March 31 Assets Cash Accounts receivable Supplies Land Building Total assets Liabilities
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