Homework Answers
Net income = Fees earned- Miscellaneous expense - Office expense - Wages expense
= 73,570-1,010-1,290-23,380
= $47,890
| Thompson Computer Services | |||
| Statement of Retained Earnings | |||
| For the Year Ended March 31 | |||
| Common Stock | Retained Earnings | Total | |
| Balance, March 31 | 127,300 | 65,000 | 192,300 |
| Issued common stock | 25,700 | 25,700 | |
| Net income | 47,890 | 47,890 | |
| Dividends | -15,200 | -15,200 | |
| Balance, April 1 | 153,000 | 97,690 | $250,690 |
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Calculator 1.300 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 $132,800 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $26,000 in stock. Accounts payable $2,000 Miscellaneous Expense $1,040 Accounts receivable 10,340 Office expense Cash 21,420 Supplies 1,670 Fees earned 72,590 Wages expense...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the...
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The assets and liabilities of Thompson Computer Services atMarch 31, the end of the current...
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
$180,000 at April 1, the beginning of the current year. Mr.
Thompson invested an additional $25,000 in the business during the
year. 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...
Instructions The assets and liabilities of Thompson Computer Services at March 31, the end of the...
Instructions 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 $115,300 and the retained earings were $70,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional 525,600 in stock Accounts Accounts payable Accounts receivable Cash Amount $2.000 10,340 21,420 74,330 47.000 157,630 Accounts Miscellaneous expense Office expense Supplies Wages expense...
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Calculator 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 $120,900 and the retained earnings were $58,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,700 in stock Accounts payable $1,950 Miscellaneous expense $1,050 Accounts receivable 10,170 Office expense 1,220 Cash 20,130 Supplies 1,670 Fees earned 70,260 Wages expense...
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$1.010 Miscellaneous expense 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 $118,800 and the retained earnings were $56,200 at April 1, the beginning of the current year. During the year, shareholders purchased additional $25,000 in stock Accounts payable $1,990 Accounts receivable 10,670 Office expense 1,200 Cash 19,530 Supplies 1,670 Fees eamed 71,760 Wages expense 22,000 Land...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the...
Calculator 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 $121,000 and the retained earnings were $56,200 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,700 in stock. Accounts payable Accounts receivable Cash Fees earned Land Building Prepare a balance sheet for the current year ended March 31 $1,810...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current...
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 $194,100 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 550 Cash 32,320 Supplies 1,670 Fees earned 78,730 Wages expense 33,380 Land 47,000...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current...
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 $121,100 and the retained earnings were $58,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,100 in stock. Accounts payable $1,820 Miscellaneous expense $1,010 Accounts receivable 10,370 Office expense 1,270 Cash 18,730 Supplies 1,670 Fees earned 67,840 Wages expense 22,440...
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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 $119,400 and the retained earnings were $56,200 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock. Accounts payable Accounts receivable Cash $1,970 10,490 18,930 71,110 46,100 155,500 Miscellaneous expense Office expense Supplies Wages expense Dividends $1,020 1,290 1,670...
Calculator 1.300 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 $132,800 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $26,000 in stock. Accounts payable $2,000 Miscellaneous Expense $1,040 Accounts receivable 10,340 Office expense Cash 21,420 Supplies 1,670 Fees earned 72,590 Wages expense...
Calculator 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 $194,100 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 550 Cash 32,320 Supplies 1,670 Fees earned 78,730 Wages expense 33,380 Land...
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
$180,000 at April 1, the beginning of the current year. Mr.
Thompson invested an additional $25,000 in the business during the
year. 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...
Instructions 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 $115,300 and the retained earings were $70,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional 525,600 in stock Accounts Accounts payable Accounts receivable Cash Amount $2.000 10,340 21,420 74,330 47.000 157,630 Accounts Miscellaneous expense Office expense Supplies Wages expense...
Calculator 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 $120,900 and the retained earnings were $58,100 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,700 in stock Accounts payable $1,950 Miscellaneous expense $1,050 Accounts receivable 10,170 Office expense 1,220 Cash 20,130 Supplies 1,670 Fees earned 70,260 Wages expense...
$1.010 Miscellaneous expense 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 $118,800 and the retained earnings were $56,200 at April 1, the beginning of the current year. During the year, shareholders purchased additional $25,000 in stock Accounts payable $1,990 Accounts receivable 10,670 Office expense 1,200 Cash 19,530 Supplies 1,670 Fees eamed 71,760 Wages expense 22,000 Land...
Calculator 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 $121,000 and the retained earnings were $56,200 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,700 in stock. Accounts payable Accounts receivable Cash Fees earned Land Building Prepare a balance sheet for the current year ended March 31 $1,810...
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 $121,100 and the retained earnings were $58,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $24,100 in stock. Accounts payable $1,820 Miscellaneous expense $1,010 Accounts receivable 10,370 Office expense 1,270 Cash 18,730 Supplies 1,670 Fees earned 67,840 Wages expense 22,440...
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