Question
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 $186,300 at April 1, the beginning of the current year. Mr. Thompson invested an additional $17,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $550 Accounts receivable 8,970 Office expense 440 Cash Fees earned 34,090 Supplies 1,670 83,610 Wages expense 32,370 Land Building 46,600 Drawing 5,700 157,720 Prepare a balance sheet for Thompson Computer Services for the current year ended March 31. Thompson Computer Services Balance Sheet March 31 Assets Total assets Liabilities QQ Q
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