At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. Account Balance Cash $26,100 Accounts receivable 17,100 Accounts payable 11,300 Common stock 17,000 Retained earnings 14,900 The following events apply to Oak Consulting for Year 2: Provided $74,500 of services on account. Incurred $2,700 of operating expenses on account. Collected $50,500 of accounts receivable. Paid $34,500 cash for salaries expense. Paid $12,600 cash as a partial payment on accounts payable. Paid a $9,300 cash dividend to the stockholders. Required Record these transactions in a general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. Account Balance Cash $26,100 Accounts receivable 17,100 Accounts payable 11,300 Common stock 17,000 Retained earnings 14,900 The following events apply to Oak Consulting for Year 2: Provided $74,500 of services on account. Incurred $2,700 of operating expenses on account. Collected $50,500 of accounts receivable. Paid $34,500 cash for salaries expense. Paid $12,600 cash as a partial payment on accounts payable. Paid a $9,300 cash dividend to the stockholders. Required Record these transactions in a general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Name: paresh At the beginning of Year 2, Oak Consulting had the following no
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Description: paresh At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts. Account Balance Cash $26,100Accounts receivable 17,100 Accounts payable 11,300 Common stock 17,000 Retained earnings 14,900 The following eventsapply

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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