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E3-18 (Algo) Analyzing the Effects of Transactions Using T-Accounts and Interpreting the Net Profit Margin Ratio as a Financial Analyst LO3-4, 3-6

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Massa Company, which has been operating for three years, provides marketing consulting services worldwide for dot-com companies. You are a financial analyst assigned to report on the Massa management teams effectiveness at managing its assets efficiently. At the start of 2019 (its fourth year), Massa's T-account balances were as follows. Dollars are in thousands.

Transactions for 2019:

1. Provided $60,000 in services to clients who paid $49,400 in cash and owed the rest on account.
2. Received $6,100 cash from clients on account.
3. Received $510 in cash as interest revenue on investments.
4. Paid $34,100 in wages, $12,800 in travel, $6,900 in rent, and $800 on accounts payable.
5. Received $1,600 in cash from clients in advance of services Massa will provide next year.
6. Received a utility bill for $690 for 2019 services.
7. Declared and immediately paid $350 in dividends to stockholders.

Assets

Cash
3,700

Accounts Receivable
8,800

Long-Term Investments
6,800

Liabilities

Accounts Payable
	1,600

Unearned Revenue
	5,100

Long-Term Notes Payable
	1,500

Stockholders Equity

Common Stock ($0.10 par value)
	690

Additional Paid-in Capital
	3,910

Retained Earnings
	6,500

Revenues

Consulting Fee Revenue

Interest Revenue

Expenses

Wages Expense

Travel Expense

Utilities Expense

Rent Expense

E3-18 Part 3

3. Compute ending balances in the T-accounts to determine amounts for the following on December 31, 2019: (Enter your answers in thousands, not in dollars.)