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not sure how to solve this? my work At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account
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my work At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 32,100 19,500 11,100 29,600 10,900 The following events apply to Oak Consulting for Year 2: 1. Provided $71,700 of services on account. 2. Incurred $3,200 of operating expenses on account. 3. Collected $46,300 of accounts receivable. 4. Paid $35,600 cash for salaries expense. 5. Paid $12,870 cash as a partial payment on accounts payable. 6. Paid a $8,200 cash dividend to the stockholders. Exercise 13-22A Part c. Show the effect of above adjustment 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 in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.) OAK CONSULTING Effect of Transactions on the Financial Statements for Year 2 Balance Sheet Income Statement Liabilities + Stockholders' Equity Revenue Expenses = Net Income Statement of Cash Flows Accounts Common Retained + Payable Stock Earnings Assets Accounts Receivable No Cash + + + Bal. 1 + + + = 2 + + + 3 + + + 4 + + + 5 + + + 6 + + + Bal. + + +Step by Step Solution
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