tion applies to the questions 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 The following events apply to Oak Consulting for Year 2: Balance $26,700 1. Provided $69,800 of services on account. 2. Incurred $3,200 of operating expenses on account. 3. Collected $50,800 of accounts receivable. Prepare a post-closing trial balance. 17,300 12,800 17,300 13,900 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. Account Titles OAK CONSULTING Post-Closing Trial Balance As of December 31, Year 2 Debit Credit

tion applies to the questions 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 The following events apply to Oak Consulting for Year 2: Balance $26,700 1. Provided $69,800 of services on account. 2. Incurred $3,200 of operating expenses on account. 3. Collected $50,800 of accounts receivable. Prepare a post-closing trial balance. 17,300 12,800 17,300 13,900 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. Account Titles OAK CONSULTING Post-Closing Trial Balance As of December 31, Year 2 Debit Credit

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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Solve this question with steps please. The subject is fundamental of financial accounting.
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