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 capital ofthe owner was $189,200 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,200 in the business during the year.Accounts payableMiscellaneous expense$460$1,200Accounts receivableOffice expense8,070610Cash33,190Supplies1,670Fees earned70,600Wages expense31,970Land48,400Drawing4,300Building147,530balance sheet for Thompson Computer Services for the current year ended March 31.Prepare Thompson Computer ServicesBalance SheetMarch 31AssetsTotal assetsLiabilitiesOwner's EquityTotal liabilities and owner's equity

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Asked Nov 27, 2019
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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 capital of
the owner was $189,200 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,200 in the business during the year.
Accounts payable
Miscellaneous expense
$460
$1,200
Accounts receivable
Office expense
8,070
610
Cash
33,190
Supplies
1,670
Fees earned
70,600
Wages expense
31,970
Land
48,400
Drawing
4,300
Building
147,530
balance sheet for Thompson Computer Services for the current year ended March 31.
Prepare
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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 capital of the owner was $189,200 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,200 in the business during the year. Accounts payable Miscellaneous expense $460 $1,200 Accounts receivable Office expense 8,070 610 Cash 33,190 Supplies 1,670 Fees earned 70,600 Wages expense 31,970 Land 48,400 Drawing 4,300 Building 147,530 balance sheet for Thompson Computer Services for the current year ended March 31. Prepare

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Thompson Computer Services
Balance Sheet
March 31
Assets
Total assets
Liabilities
Owner's Equity
Total liabilities and owner's equity
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Thompson Computer Services Balance Sheet March 31 Assets Total assets Liabilities Owner's Equity Total liabilities and owner's equity

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Expert Answer

Step 1

Balance sheet is prepared as follows:

 

Resulting excel sheet is as ...

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A A. Thompson Computer Services 1 Thompson Computer Services Balance sheet Balance sheet 2 2 March 31 3 March 31 Amount(S) 4 Particulars Amount(S) 4 Particulars Assets 5 Assets 5 6 Cash 7 Accounts receivable 8 Supplies 9 Building 10 Land 33190 8070 1670 147530 48400 -SUM(B6:B10) 33190 8070 1670 147530 48400 238860 6 Cash 7 Accounts receivable 8 Supplies 9 Building 10 Land 11 Total assets 11 Total assets Liabilities 12 12 Liabilities 13 Accounts payable 1200 Owners' equity 13 Accounts payable 1200 14 Owners' equity 14 15 Owners' equity (1note) Total liabilities and Owners' 16 equity 237660 15 Owners' equity (note) 237660 Total liabilities and B13+B15 16 Owners' equity 238860

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