EX.01.259.ALGOThe 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$430Accounts receivable10,340 Office expense310Cash32,320 Supplies1,670Fees earned82,050 Wages expense29,400Land47,000 Drawing6,900Building164,180 Prepare a statement of owner’s equity for Thompson Computer Services for the current year ended March 31.Thompson Computer ServicesStatement of Owner's EquityFor 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

Statement of owners' equity is prepared to show the changes in net worth of the business over the…

Answered: The assets and liabilities of Thompson…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter1: Introduction To Accounting And Business

Section: Chapter Questions

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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
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
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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