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 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 follow. The capital of the owner was $188,600 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,700 in the business during the year. Miscellaneous expense Accounts payable Accounts receivable Cash Fees earned Land Building $1,200 10,340 Office expense 32,320 Supplies 78,390 Wages expense 47,000 Drawing 155,630 $570 610 1,670 29,150 6,600 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 8
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