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Labels and Amount Descriptions Instructions The assets and liabilities of Thompson Computer Services at...

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Accounting

Labels and Amount Descriptions
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 $120,000 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $25,000 in stock.
\table[[Accounts,Amount,Accounts,Amount],[Accounts payable,$2,000,Miscellaneous expense,$410
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