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 $115,700 and the retained earnings were $59,800 at April 1, the beginning of the current year During the year, shareholders purchased an additional $24,600 in stock Accounts payable $1,980 Miscellaneous expense $1,030 Accounts receivable 10,750 Office expense 1,240 Cash 20,330 Supplies 1,670 Fees earned 73,420 Wages expense 22,160 Land 46,800 Dividends 16,020 Building 155,500 Prepare a balance sheet for the current year ended March 31 Thompson's Computer Services Balance Sheet March 31 Assets Accounts payableCashFees earnedMiscellaneous expenseRetained earnings $ Select Accounts payableAccounts receivableCommon stockOffice expenseWages expense Select Accounts payableFees earnedRetained earningsSuppliesWages expenses Select Common stockLandMiscellaneous expenseRetained earningsWages expense Select Accounts payableBuildingFees earnedOffice expenseRetained earnings Select Total assets $fill in the blank 11 Liabilities Accounts payableAccounts receivableFees earnedSuppliesWages expense $ Select Stockholders' Equity Accounts receivableCashCommon stockOffice expenseSupplies Select Accounts receivableBuildingCashDividendsRetained earnings Select Total liabilities and stockholders' equity $fill in the blank 18

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 12, 2024

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

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 $115,700 and the retained earnings were $59,800 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,600 in stock.

Accounts payable	$1,980	Miscellaneous expense	$1,030
Accounts receivable	10,750	Office expense	1,240
Cash	20,330	Supplies	1,670
Fees earned	73,420	Wages expense	22,160
Land	46,800	Dividends	16,020
Building	155,500

Prepare a balance sheet for the current year ended March 31.

Thompson's Computer Services **Balance Sheet** March 31
Assets
Accounts payableCashFees earnedMiscellaneous expenseRetained earnings	$- Select -
Accounts payableAccounts receivableCommon stockOffice expenseWages expense	- Select -
Accounts payableFees earnedRetained earningsSuppliesWages expenses	- Select -
Common stockLandMiscellaneous expenseRetained earningsWages expense	- Select -
Accounts payableBuildingFees earnedOffice expenseRetained earnings	- Select -
Total assets	$fill in the blank 11
Liabilities
Accounts payableAccounts receivableFees earnedSuppliesWages expense	$- Select -
Stockholders' Equity
Accounts receivableCashCommon stockOffice expenseSupplies	- Select -
Accounts receivableBuildingCashDividendsRetained earnings	- Select -
Total liabilities and stockholders' equity	$fill in the blank 18