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 $126,300 and the retained earnings were $66,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,300 in stock. Accounts payable $2,000 Miscellaneous Expense $1,010 Accounts receivable 10,340 Office expense 1,290 Cash 21,420 Supplies 1,670 Fees earned 72,800 Wages expense 23,470 Land 47,000 Dividends 14,100 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 ServicesStatement of Stockholders’ EquityFor the Year Ended March 31 blank Common Stock Retained
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 $126,300 and the retained earnings were $66,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,300 in stock. Accounts payable $2,000 Miscellaneous Expense $1,010 Accounts receivable 10,340 Office expense 1,290 Cash 21,420 Supplies 1,670 Fees earned 72,800 Wages expense 23,470 Land 47,000 Dividends 14,100 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 ServicesStatement of Stockholders’ EquityFor the Year Ended March 31 blank Common Stock Retained
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question Content Area
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 $126,300 and the
| Accounts payable | $2,000 | Miscellaneous Expense | $1,010 | |
| 10,340 | Office expense | 1,290 | ||
| Cash | 21,420 | Supplies | 1,670 | |
| Fees earned | 72,800 | Wages expense | 23,470 | |
| Land | 47,000 | Dividends | 14,100 | |
| Building | 157,630 |
Prepare a statement of
Thompson Computer ServicesStatement of Stockholders’ EquityFor the Year Ended March 31
| blank | Common Stock |
Retained Earnings |
Total |
|
|
$Balances, April 1 | $Balances, April 1 | $Balances, April 1 |
|
|
Issued common stock | Issued common stock | Issued common stock |
|
|
Net income | Net income | Net income |
|
|
Dividends | Dividends | Dividends |
|
|
$Balances, March 31 | $Balances, March 31 | $Balances, March 31 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
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.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education