chapter 3 excersize
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Required information [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. The following events apply to Oak Consulting for Year 2 : 1. Provided $69,700 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $49,400 of accounts receivable. 4. Paid $39,500 cash for salaries expense. 5. Paid $14,040 cash as a partial payment on accounts payable. 6. Paid a $9,600 cash dividend to the stockholders. f. Prepare a post-closing trial balance: Required information [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. The following events apply to Oak Consulting for Year 2 : 1. Provided $69,700 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $49,400 of accounts receivable. 4. Paid $39,500 cash for salaries expense. 5. Paid $14,040 cash as a partial payment on accounts payable. 6. Paid a $9,600 cash dividend to the stockholders. e. What is the amount of change in retained earnings for the year? Required information [The following information apples to the questions cispleyed below] At the beginning of Year 2, Oak Consulbng had the following nommal baiances in its accounts: The folowing events apply to Ook Comsuting foe Year 2. 1. Provided $69.700 of services on account. 2 incurred $2,800 of eperating expenses on account. 3. Collected $49,400 of accounts receivable. 4. Paid $39,500 cash for salaries empense. 5. Paid $14,040 cash as a partial poymem on accounts poyabie. 6. Paid a $9,600 cash dividend to the stockhoiders. d-1. Record the cloeing entries in the genesal joumal (and post them to the T-accounts) d.2. What is the amount of nes income for the year? Complete this question by entering your answers in the tabs below. Record the cioeing enthes in the general jeumal (and post them to the T-accounts), (it no entry is required for a tratiaktionjevt select "No joumal entry required in the first accoont field.) Journal entry worksheet Record the closing entry for revenues. d-1. Record the closing entries in the general journal (and post them to the T-accounts). d-2. What is the amount of net income for the year? Complete this question by entering your answers in the tabs below. What is the amount of net income for the year? Required information [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. The following events apply to Oak Consulting for Year 2 : 1. Provided $69,700 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $49,400 of accounts recelvable. 4. Paid $39,500 cash for salaries expense. 5. Paid $14,040 cash as a partial payment on accounts payable. 6. Paid a $9,600 cash dividend to the stockholders. c. Show the beginning balances and the transactions in a horizontal statements model. (Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. Not all cells require input.) [The foliowing information opplies to the questions displayed below]. At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. The following events apply to Oak Consulting for Year 2 . 1. Provided $69,700 of services on account. 2. Incurred $2,800 of operaing expenses on account: 3. Collected $49,400 of accounts receivable. 4. Paid $39,500 cash for salories expense. 5. Paid $14,040 cash as a partial poyment on accounts poysble. 6. Poid a $9,600 cash cividend to the stockholders b. \& d. Post the beginning balances and the tansactions from Part a to the appropriate accounts Latec post the closi Required information [The following information applies to the questions cisplayed below]. At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. The following events apply to Oak. Consulting for Year 2 . 1. Provided $69,700 of services on account. 2. Incurted $2,800 of operating expenses on account. 3. Collected $49,400 of accounts tecelvable. 4. Paid $39,500 cash for salaries expense. 5. Paid 514,040 cash as a partial payment on occounts poyable. 6. Paid a $9,600 cash dividend to the stockholdets. Required Record these transactions in a genefal journal. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required On December 31, Year 2, Morgan Company had the following normal account balances in its general ledger. Use this information to prepare a trial balance. Required Record each of the following Fred Company events in T-accounts: a. Received $18,500 cash by issuing common stock. b. Purchased supplies for $690 cash. c. Purchased land for $6,800 cash. d. Performed services for $4,900 cash. Complete this question by entering your answers in the tabs below. Record the event in T-accounts: Received $18,500 cash by issuing common stock
