Reference no: EM132675603
Question - 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 are listed below. The common stock was $119,900 and the retained earnings were $55,600 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,000 in stock.
Accounts payable $1,990 Miscellaneous expense $1,030 Accounts receivable 10,490 Office expense 1,240 Cash 18,430 Supplies 1,670 Fees earned 73,010 Wages expense 22,500 Land 46,800 Dividends 16,240 Building 156,100
Required - Prepare a balance sheet for the current year ended March 31.
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