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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
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 capital of the owner was $187,400 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,700 in the business during the year.
Accounts payable$1,200 Miscellaneous expense$580Accounts receivable9,860 Office expense530Cash34,100 Supplies1,670Fees earned81,200 Wages expense34,100Land45,700 Drawing5,400Building153,560
Prepare a balance sheet for Thompson Computer Services for the current year ended March 31.
AssetsAccounts payableCashFees earnedMiscellaneous expenseThompson, drawing$- Select -Accounts payableAccounts receivableOffice expenseThompson, capitalWages expense- Select -Accounts payableFees earnedSuppliesThompson, drawingWages expenses- Select -LandMiscellaneous expenseThompson, capitalThompson, drawingWages expense- Select -Accounts payableBuildingFees earnedOffice expenseThompson, drawing- Select -Total assets$fill in the blank 11LiabilitiesAccounts payableAccounts receivableFees earnedSuppliesWages expense$- Select -Owner's EquityAccounts receivableCashFees earnedThompson, capitalThompson, drawing- Select -Total liabilities and owner's equity$fill in the blank 16Step by Step Solution
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