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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
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 Balance $ 34,300 Accounts receivable Accounts payable Common stock Retained earnings 15,800 13,600 24,600 11,900 The following events apply to Oak Consulting for Year 2: 1. Provided $72,900 of services on account. 2. Incurred $2,600 of operating expenses on account. 3. Collected $46,500 of accounts receivable. 4. Paid $32,500 cash for salaries expense.. 5. Paid $14,580 cash as a partial payment on accounts payable. 6. Paid a $9,100 cash dividend to the stockholders.
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