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 year, and its revenue and expenses for the year follow. The common stock was $118,300 and the retained earnings was $58,300 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,200 in stock. Accounts payable $1,820 Accounts receivable 10,550 Cash 18,330 Fees earned 71,920 Land 46,100 Building 157,000 Miscellaneous expense $1,050 Office expense 1,280 Supplies 1,670 Wages expense 22,090 Dividends 16,470 Prepare a balance sheet for the current year ended March 31. 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 common stock was $118,300 and the retained earnings was $58,300 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,200 in stock. Accounts payable $1,820 Accounts receivable 10,550 Cash 18,330 Fees earned 71,920 Land 46,100 Building 157,000 Miscellaneous expense $1,050 Office expense 1,280 Supplies 1,670 Wages expense 22,090 Dividends 16,470 Prepare a balance sheet for the current year ended March 31.

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To prepare a balance sheet for Thompson Computer Services for the year ended M... View the full answer