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 $ 34,900 22,200 10,700 34,200 12,200 The following events apply to Oak Consulting for Year 2: 1. Provided $73,400 of services on account. 2. Incurred $2.500 of operating expenses on account. 3. Collected $49.400 of accounts receivable. 4. Paid $35,400 cash for salaries expense. 5. Paid $11,880 cash as a partial payment on accounts payable. 6. Paid a $8,300 cash dividend to the stockholders.
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 $ 34,900 22,200 10,700 34,200 12,200 The following events apply to Oak Consulting for Year 2: 1. Provided $73,400 of services on account. 2. Incurred $2.500 of operating expenses on account. 3. Collected $49.400 of accounts receivable. 4. Paid $35,400 cash for salaries expense. 5. Paid $11,880 cash as a partial payment on accounts payable. 6. Paid a $8,300 cash dividend to the stockholders.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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don't give answer in image format
![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
$ 34,900
22,200
10,700
34,200
12,200
The following events apply to Oak Consulting for Year 2:
1. Provided $73,400 of services on account.
2. Incurred $2,500 of operating expenses on account.
3. Collected $49,400 of accounts receivable.
4. Paid $35,400 cash for salaries expense.
5. Paid $11,880 cash as a partial payment on accounts payable.
6. Paid a $8,300 cash dividend to the stockholders.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5900313-5bbd-4723-95ef-005d58ce5cca%2F359cafaf-f74e-49fb-bf47-5a340ac56686%2Fwhr04hk_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
$ 34,900
22,200
10,700
34,200
12,200
The following events apply to Oak Consulting for Year 2:
1. Provided $73,400 of services on account.
2. Incurred $2,500 of operating expenses on account.
3. Collected $49,400 of accounts receivable.
4. Paid $35,400 cash for salaries expense.
5. Paid $11,880 cash as a partial payment on accounts payable.
6. Paid a $8,300 cash dividend to the stockholders.
Transcribed Image Text:f. Prepare a post-closing trial balance.
OAK CONSULTING
Post-Closing Trial Balance
As of December 31, Year 2
Debit
Totals
Account Titles
Accounts receivable
Accounts payable
Cash
Common stock
Retained earnings
$
0 $
Credit
8
27
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