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 $26,700 17,300 12,800 17,300 13,900 Accounts receivable Accounts payable Common stock Retained earnings The following events apply to Oak Consulting for Year 2: 1. Provided $69,800 of services on account. 2. Incurred $3,200 of operating expenses on account. 3. Collected $50,800 of accounts receivable. 4. Paid $30,300 cash for salaries expense. 5. Paid $14,400 cash as a partial payment on accounts payable. 6. Paid a $9,200 cash dividend to the stockholders.

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 $26,700 17,300 12,800 17,300 13,900 Accounts receivable Accounts payable Common stock Retained earnings The following events apply to Oak Consulting for Year 2: 1. Provided $69,800 of services on account. 2. Incurred $3,200 of operating expenses on account. 3. Collected $50,800 of accounts receivable. 4. Paid $30,300 cash for salaries expense. 5. Paid $14,400 cash as a partial payment on accounts payable. 6. Paid a $9,200 cash dividend to the stockholders.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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