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

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Accounting

Content Area 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 $116,400 and the retained earnings was $59,400 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,500 in stock. Line Item Description Amount Accounts payable $1,950 Accounts receivable 10,530 Cash 19,330 Fees earned 71,150 Land 46,200 Building 155,500 Miscellaneous

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