The assets and liabilities of Thompson Computer Services at March 31, the end of the current...

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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 expens

Land 45,700 Dividends Building 156,000 Prepare a balance sheet for the current year ended March 31. Thompsons Computer Servi

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Answer 1

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Answer

Balance Sheet
ASSETS
Cash	$18,730
Accounts receivables	$10,370
Supplies	$1,670
Land	$45,700
Building	$156,000
Total Assets	$232,470
LIABILITIES
Accounts payable	$1,820
STOCKHOLDER's EQUITY
Common Stock ($121100 + 24100)	$145,200
Retained earnings ($58000 + 67840 fees earned - [1010+1270+22440+15670]expenses and dividends)	$85,450
Total Stockholder's equity	$230,650
Tota Liabilities & Stockholder's equity	$232,470

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Answer 2

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