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:

Account	Balance
Cash	$	25,100
Accounts receivable		20,500
Accounts payable		10,700
Common stock		20,600
Retained earnings		14,300

The following events apply to Oak Consulting for Year 2:

1. Provided $66,400 of services on account.
2. Incurred $2,600 of operating expenses on account.
3. Collected $49,600 of accounts receivable.
4. Paid $39,400 cash for salaries expense.
5. Paid $11,970 cash as a partial payment on accounts payable.
6. Paid a $8,900 cash dividend to the stockholders.

rev: 11_21_2018_QC_CS-149034

d-1. Record the closing entries in the general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet Record the closure of service revenue Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general Journal d-2. What is the amount of net Income for the year? Net income 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: Account Cash Accounts receivable Accounts payable Conmon stock Retained earnings Balance s 25,188 28,588 18,788 28,680 14,368 The following events apply to Oak Consulting for Year 2: 1. Provided $66.400 of services on account. 2. Incurred $2600 of operating expenses on account. 3. Collected $49,600 of accounts recevable 4. Pald $39.400 cash for salarles expense. 5. Pald $11,970 cash as a partial payment on accounts payable. 6. Pald a $8,900 cash divldend to the stockholders. e. What is the amount of change In retalned earnings for the year? hange in retained earnings 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: Account Cash Accounts receivable Accounts payable Conmoni stock Retained earnings Balance $ 25,180 28,588 18,708 28,688 14,388 The following events apply to Oak Consulting for Year 2 1. Provided $66,400 of services on account. 2. Incurred $2600 of operating expenses on account. 3. Collected $49,600 of accounts recelvable. 4. Pald $39,400 cash for salarles expense. 5. Pald $11,970 cash as a partlal payment on accounts payable. 6. Pald a $8,900 cash dividend to the stockholders f. Prepare a post-closing trial balance. Post-Closing Trial Balance As of December 31, Year 2 Account Titles Debit Credit Totals