The Assets and Liabilities of Thompson Computer Services at March

question 113

Essay

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.
?
$$\begin{array} { l r l r } \text { Accounts payable } & \$ 2,000 & \text { Miscellaneous expense } & \$ 1,030 \\\text { Accounts receivable } & 10,340 & \text { Office expense } & 1,240 \\\text { Cash } & 21,420 & \text { Supplies } & 1,670 \\\text { Fees earned } & 73,450 & \text { Wages expense } & 23,550 \\\text { Land } & 47,000 & \text { Drawing } & 16,570 \\\text { Building } & 157,630 & &\end{array}$$
-Prepare a balance sheet for Thompson Computer Services for the current year ended March 31.

---

Definitions:

Precognition

The paranormal ability to foresee or predict future events before they happen.

Psychokinesis

The purported ability to move or manipulate objects through mental effort alone, a phenomenon not scientifically proven.

Clairvoyance

The presumed capacity to acquire knowledge regarding an object, individual, place, or physical occurrence without using the five traditional senses.

Telepathy

The supposed communication of thoughts or ideas without the known sensory channels, often considered a paranormal phenomenon.