Assets and Liabilities of Thompson Computer Services
The assets and liabilities of Thompson Computer Services on March 31, the end of the current year, and revenue and expenses for the year are listed below. The capital of the owner was $180,000 on April 1.t the beginning of the current year.
Mr. Thompson invested an additional $25,000 in the business during the Accounts payable Accounts receivable Cash Fees earned Land Building $ 2.000 10,340 21,420 73,450 47,000 157,630 Miscellaneous expense Office expense Supplies Wages expense Drawing $ 1,030 1,240 1,670 23,550 16,570 31. Prepare an income statement for the current year ended March 31. Get Accounting homework help today