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Labels and Amount Descriptions Instructions The assets and labilities of Thompson Computer Services at March...

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Accounting

Labels and Amount Descriptions Instructions The assets and labilities of Thompson Computer Services at March 31, the end of the current year, and its rovenue and expenses for the year are listed below. The common stock was $120,000 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock. Accounts Amount Accounts Amount Accounts payable $2,000 Miscellaneous expense $1,030 Accounts receivable 10,340 Office expense 1,240 Cash 21,420 Supplies 1,670 Fees earned 73,450 Wages expense 23,550 Land 47,000 Dividends 16,570 Building 157,630 Required: All work saved

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