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 $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 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 Prepare an income statement for the current year ended March 31. Thompson's Computer Services Income Statement For the Year Ended March 31 Expenses: Total expenses
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 $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 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 Prepare an income statement for the current year ended March 31. Thompson's Computer Services Income Statement For the Year Ended March 31 Expenses: Total expenses
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
Problem 2PA: Financial statements The assets and liabilities of Global Travel Agency on December 31, 20Y5, and...
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