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how to find retained earnings and common stock?? The assets and liabilities of Thompson Computer Services at March 31, the end of the current year,
how to find retained earnings and common stock??
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 $53,300 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,400 in stock. Accounts Amount Accounts Amount Accounts payable $1,910 Miscellaneous expense $1,010 Accounts receivable 10.410 Office expense 1,250 Cash 19,730 Supplies 1,670 Fees earned 69,930 Wages expense 22,350 Land 46,200 Dividends 15,920 Building 155,300 Required: Prepare a balance sheet for the current year ended March 31. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Thompson's Computer Services Score: 80/93 Balance Sheet For the Year Ended March 31 1 Assets 2 Cash $19,730.00 3 Accounts receivable 10,410.00 - Supplies 1,670.00 5 Land 46,200.00 6 Building 155,300.00 7 Total assets $233,310.00 8 Liabilities 9 Accounts payable $1,910.00 10 Stockholders' Equity 11 Common stock 119,300.00 12 Retained earnings 58,300.00 13 Total Liabilities and stockholders' equity $179,510.00
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