Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4

[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:

Account	Balance
Cash	$	32,200
Accounts receivable		18,800
Accounts payable		11,300
Common stock		28,800
Retained earnings		10,900

The following events apply to Oak Consulting for Year 2:

1. Provided $68,900 of services on account.
2. Incurred $2,800 of operating expenses on account.
3. Collected $50,000 of accounts receivable.
4. Paid $39,300 cash for salaries expense.
5. Paid $12,690 cash as a partial payment on accounts payable.
6. Paid a $8,600 cash dividend to the stockholders.
7. 

Exercise 3-22A Part a Required Record these events in a general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list X: Provided $68,900 of services on account. > A B Incurred $2,800 of operating expenses on account. C Collected $50,000 of accounts receivable. D Paid $39,300 cash for salaries expense. E Credit Paid $12,690 cash as a partial payment on accounts payable. F Paid an $8,600 cash dividend to the stockholders. Note : = journal entry has been entered Record entry Clear entry View general journal Exercise 3-22A Part b b & d. Post the beginning balances and the transactions from Parts a&d to the appropriate accounts. Cash Accounts Receivable Beg. Bal Beg. Bal End. Bal End. Bal Accounts Payable Common Stock Beg. Bai Beg Bal End. Bal End. Bal Retained Earnings Dividends Beg. Bal Beg. Bal End. Bal Bal Service Revenue Operating Expenses Beg. Bal Beg. Bal End. Bal End. Bal Salaries Expense Beg. Bal End. Bal Exercise 3-22A Part c. Show the beginning balances and the events in a horizontal statements model such as the following one: (In the Cash Flow column, use the initials "OA" for operating activities, "FA" for financing activities and "NC" for net change in cash. Select "NA" wherever required. Enter any decreases to account balance and cash outflows with a minus sign.) OAK CONSULTING Effect of Transactions on the Financial Statements for Year 2 Balance Sheet Income Statement Liabilities Stockholders' Equity Revenue Expenses = Net Income Accounts Common Retained Payable Stock Earnings + + = + Assets Accounts Receivable Statement of Cash Flow No Cash + + Bal. + 1 + + + 2 + + + = 3 + + 4 + + + = 5 + + + 6 + + + Ball + = + +