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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 are listed below. The common stock was $118,900 and the retained earnings were $56,600 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,400 in stock. Accounts payable $1,850 Miscellaneous expense $1,020 Accounts receivable 10,460 Office expense 1,240 Cash 20,030 Supplies 1,670 Fees earned 71,610 Wages expense 22,240 Land Dividends 16,200 45,200 155,300 Building Prepare a balance sheet for the current year ended March 31. Thompson's Computer Services Balance Sheet March 31 Assets Cash Accounts receivable Supplies Land Building Total assets Liabilities Accounts payable Un im Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity
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