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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
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 $ 33,600 Accounts receivable 19,500 Accounts payable 13,300 Common stock 29,400 Retained earnings 10,400 The following events apply to Oak Consulting for Year 2: 1. Provided $66,900 of services on account. 2. Incurred $2,900 of operating expenses on account 3. Collected $46,400 of accounts receivable. 4. Paid $30,000 cash for salaries expense. 5. Pald $14,580 cash as a partial payment on accounts payable 6. Pald a $8,300 cash dividend to the stockholders. b&d. Post the beginning balances and the transactions from Parts a and d to the appropriate accounts. 1. Provided $66,900 of services on account. 2. Incurred $2,900 of operating expenses on account. 3. Collected $46,400 of accounts receivable. 4. Paid $30,000 cash for salaries expense. 5. Paid $14,580 cash as a partial payment on accounts payable. 6. Paid a $8,300 cash dividend to the stockholders. b&d. Post the beginning balances and the transactions from Parts a and d to the appropriate accounts. Cash Accounts Receivable Beg. Bal Beg. Bal End. Bal End. Bal Accounts Payable Common Stock Beg. Bal Beg. Bal End. Bal End. Bal Required information Retained Earnings Dividends Beg. Bal Beg Bal End, Bal End. Bal Service Revenue Operating Exponses Beg. Bal Beg Bal End. Bal End. Bal Salaries Expense Beg. Bal End. Bal
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