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 $1,200 Miscellaneous expense $330 Accounts receivable 12,340 Office expense 470 Cash 32,990 Supplies 1,670 Fees earned 76,950 Wages expense 28,290 Land 65,000 Dividends 3,000 Building 143,670
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 $1,200 Miscellaneous expense $330 Accounts receivable 12,340 Office expense 470 Cash 32,990 Supplies 1,670 Fees earned 76,950 Wages expense 28,290 Land 65,000 Dividends 3,000 Building 143,670
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 9BE
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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 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 $1,200 Miscellaneous expense $330 Accounts receivable 12,340 Office expense 470 Cash 32,990 Supplies 1,670 Fees earned 76,950 Wages expense 28,290 Land 65,000 Dividends 3,000 Building 143,670
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