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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 are listed below. The capital of the owner was $193,200 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,300 in the business during the year. Accounts payable $1,200 Miscellaneous expense $540 Accounts receivable 10,340 Office expense 440 Cash 32,320 Supplies 1,670 Fees earned 70,280 Wages expense 28,570 Land 47,000 Drawing 4,900 Building 153,200 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 Thompson, capital, April 1 Additional investment by owner during year 0.00
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