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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 $123,400 and the retained earnings were $56,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,200 in stock.
Accounts payable | $1,930 | Miscellaneous expense | $1,000 | |
Accounts receivable | 10,870 | Office expense | 1,260 | |
Cash | 20,030 | Supplies | 1,670 | |
Fees earned | 70,550 | Wages expense | 22,470 | |
Land | 46,300 | Dividends | 15,580 | |
Building | 157,000 |
Prepare a balance sheet for the current year ended March 31.
Thompson's Computer Services | |
Balance Sheet | |
March 31 | |
Assets | |
----------- | $--------- |
-------------- | ---------- |
------------- | ----------- |
----------- | ----------- |
----------- | ---------- |
Total assets | $--------- |
Liabilities | |
------------ | $---------- |
Stockholders' Equity | |
--------------- | ---------- |
-------------- | ---------- |
Total liabilities and stockholders' equity | $---------- |
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