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 Common stock Retained earnings Balance $29,900 23,800 12,500 29,400 11,800 The following events apply to Oak Consulting for Year 2: 1. Provided $65,800 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $48,900 of accounts receivable. 4. Paid $30,300 cash for salaries expense. 5. Paid $13,770 cash as a partial payment on accounts payable. 6. Paid a $10,000 cash dividend to the stockholders. uired
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 Common stock Retained earnings Balance $29,900 23,800 12,500 29,400 11,800 The following events apply to Oak Consulting for Year 2: 1. Provided $65,800 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $48,900 of accounts receivable. 4. Paid $30,300 cash for salaries expense. 5. Paid $13,770 cash as a partial payment on accounts payable. 6. Paid a $10,000 cash dividend to the stockholders. uired
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter1: Introduction To Accounting And Business
Section: Chapter Questions
Problem 3BE: Transactions Interstate Delivery Service is owned and operated by Katie Wyer. The following selected...
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