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

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

Name: The assets and liabilities of Thompson Computer Services at March 31,
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Description: The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the yearfollow. The common stock was $121,200 and the retained earnings was $55,200 at April 1, the beginning of the

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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