The Assets and Liabilities of Thompson Computer Services at March

question 162

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

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Definitions:

Change-Of-Shift

A process where healthcare workers pass on patient information and responsibility to the next set of workers coming in for the following shift.

Diet As Tolerated

A dietary guideline allowing patients to consume foods they are able to tolerate without adverse effects, often used in medical contexts to reintroduce solid foods.

Abbreviated Order

A shortened or condensed command or directive, often used in contexts where speed or brevity is required.

Physician Writes

Refers to the activity of doctors issuing prescriptions, medical reports, or notes regarding a patient’s health or treatment.