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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
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 $195,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,600 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 300 Cash 32,320 Supplies 1,670 Fees earned Land 74,870 47,000 Wages expense 31,340 Drawing 6,400 Building 156,740 Prepare a statement of owner's equity for Thompson Computer Services for the current year ended March 31. Thompson Computer Services Statement of Owner's Equity For the Year Ended March 31 $ $
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