Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the assets and liabilities of thompson computer se

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

80.2K

Verified Solution

Question

Accounting

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 capital of the owner was $189,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,000 in the business during the year.

Accounts payable $1,200 Miscellaneous expense $410
Accounts receivable 8,070 Office expense 370
Cash 34,090 Supplies 1,670
Fees earned 75,800 Wages expense 27,270
Land 47,500 Drawing 6,600
Building 155,020

Prepare a balance sheet for Thompson Computer Services for the current year ended March 31.

Thompson Computer Services Balance Sheet March 31

$- Select -

- Select -

- Select -

- Select -

- Select -
Total assets
Liabilities

$- Select -
Owner's Equity

- Select -
Total liabilities and owner's equity

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Accounting for share capital Rippa Ltd was incorporated on 1 July 2017. The following transactions and events...

Psychology
1.2K views

Compare and contrast two theories of personality development in middle age. Are these theories mutually contradictory,...

Accounting
1.2K views

            Assets at 12/31/03                                 Liabilities at 12/31/03             Cash                                   $   200         Short-term trade payables            $   500             Short-term trade receivables     600         Note payable to CEO, due 8/31/04 (2)...

Physics
1.2K views

10 An equilateral triangle of side length 1 is formed from a piece of uniform...

Physics
1.2K views

1 points SCalcET8 2 6 058 Find a formula for a function that has vertical...

Calculus
1.2K views

Solve the system dx dt 2 1 14 5 2 2 B with a 0...

Calculus
1.2K views

The derivative of y 34x is Oyl 342 In 4 Oyl 4 342 In 3...

Accounting
1.2K views

Dvorak Company produced 1,000 units of product that required three standard hours per unit. The...

Accounting
1.2K views

Mazeppa Corporation sells relays at a selling price of $28 per unit. The company's cost...

Accounting
1.2K views

Current Attempt in Progress Given the accounting equation, answer each of the following questions. (a)...

Accounting
1.2K views

John Fleming, chief administrator for Valley View Hospital, is concerned about the costs for tests...

Accounting
1.2K views

5. Yuvwell Corporation's direct labor budget for next year...