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 $121,200 and the retained earnings was $55,200 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock. Accounts payable $1,820 Accounts receivable 10,080 Cash 19,630 Fees earned 71,880 Land 46,300 Building 156,300 Miscellaneous expense $1,000 1,240 1,670 22,980 15,900 Office expense Supplies Wages expense Dividends Prepare a balance sheet for the current year ended March 31. Thompson Computer Services Balance Sheet March 31 Line Item Description Assets Amount Amount Previous Next

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 $121,200 and the retained earnings was $55,200 at April 1, the beginning of the current year. During the year,
shareholders purchased an additional $25,000 in stock.
Accounts payable
Accounts receivable
$1,820
10,080
Cash
19,630
Fees earned
71,880
Land
46,300
Building
156,300
Miscellaneous expense $1,000
1,240
1,670
22,980
15,900
Office expense
Supplies
Wages expense
Dividends
Prepare a balance sheet for the current year ended March 31.
Thompson Computer Services
Balance Sheet
March 31
Line Item Description
Assets
Amount Amount
Previous
Next
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 $121,200 and the retained earnings was $55,200 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock. Accounts payable Accounts receivable $1,820 10,080 Cash 19,630 Fees earned 71,880 Land 46,300 Building 156,300 Miscellaneous expense $1,000 1,240 1,670 22,980 15,900 Office expense Supplies Wages expense Dividends Prepare a balance sheet for the current year ended March 31. Thompson Computer Services Balance Sheet March 31 Line Item Description Assets Amount Amount Previous Next
Prepare a balance sheet for the current year ended March 31.
Thompson Computer Services
Balance Sheet
March 31
Line Item Description
Total assets
Assets
Liabilities
Stockholders' Equity
Total stockholders' equity
Total liabilities and stockholders' equity
Amount Amount
$
$
Transcribed Image Text:Prepare a balance sheet for the current year ended March 31. Thompson Computer Services Balance Sheet March 31 Line Item Description Total assets Assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Amount Amount $ $
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