The assets and liabilities of Thompson Computer Services at March 31, the end of the current...

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The assets and liabilities of Thompson Computer Services at March 31, the end of the current fiscal year, and its revenue and expenses for the year follow. Mike Thompson, Capital, had a balance of $180,000 at April 1, the beginning of the current year. During the year, the owner invested an additional $25,000. Accounts payable Accounts receivable Cash Fees earned Land Building Miscellaneous expense Office expense Supplies Wages expense Mike Thompson, Drawing $1,200 12,340 32,990 78,940 65,000 143,670 Expenses: Income Statement For the Year Ended March 31 Line Item Description Amount Amount Total expenses Prepare an income statement for the current year ended March 31. Thompson Computer Services 350 1,670 30,530 3,000 470 100 The assets and liabilities of Thompson Computer Services at March 31, the end of the current fiscal year, and its revenue and expenses for the year follow. Mike Thompson, Capital, had a balance of $180,000 at April 1, the beginning of the current year. During the year, the owner invested an additional $25,000. Accounts payable Accounts receivable Cash Fees earned Land Building Miscellaneous expense Office expense Supplies Wages expense Mike Thompson, Drawing $1,200 12,340 32,990 78,940 65,000 143,670 Expenses: Income Statement For the Year Ended March 31 Line Item Description Amount Amount Total expenses Prepare an income statement for the current year ended March 31. Thompson Computer Services 350 1,670 30,530 3,000 470 100

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