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 $195,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,300 in the business during the year. Accounts payable $1,200 Miscellaneous expense $430 Accounts receivable 10,340 Office expense 310 Cash 32,320 Supplies 1,670 Fees earned 82,050 Wages expense 29,400 Land 47,000 Drawing 6,900 Building 164,180 Prepare a statement of owner’s equity for Thompson Computer Services for the current year ended March 31. Thompson Computer Services
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 $195,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,300 in the business during the year. Accounts payable $1,200 Miscellaneous expense $430 Accounts receivable 10,340 Office expense 310 Cash 32,320 Supplies 1,670 Fees earned 82,050 Wages expense 29,400 Land 47,000 Drawing 6,900 Building 164,180 Prepare a statement of owner’s equity for Thompson Computer Services for the current year ended March 31. Thompson Computer Services
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 10SPB
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EX.01.259.ALGO
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 $195,000 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,300 in the business during the year.
| Accounts payable | $1,200 | Miscellaneous expense | $430 | |
| 10,340 | Office expense | 310 | ||
| Cash | 32,320 | Supplies | 1,670 | |
| Fees earned | 82,050 | Wages expense | 29,400 | |
| Land | 47,000 | Drawing | 6,900 | |
| Building | 164,180 |
Prepare a statement of owner’s equity for Thompson Computer Services for the current year ended March 31.
| Thompson Computer Services | ||
| Statement of Owner's Equity | ||
| For the Year Ended March 31 | ||
| $fill in the blank 2 | ||
| $fill in the blank 4 | ||
| fill in the blank 6 | ||
| fill in the blank 8 | ||
| fill in the blank 10 | ||
| $fill in the blank 12 |
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