
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)

Transcribed Image Text:Part d.
Beg. Bal
End. Bal.
Beg. Bal
End. Bal
Beg. Bal
End, Bal
Beg. Bal
End. Bal
Beg. Bal
was the beginning walonces and the transactions on all to the appropriate accounts. Later,
End. Bal
Cash
Accounts Payable
Retained Earnings
Service Revenue
Salaries Expense
Beg. Bal
End. Bal
Beg: Bal
End. Bal
Bog. Bal
End. Bal
Beg. Bal
End. Bal
Accounts Receivable
Common Stock
Dividends
Operating Expenses
++

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
The following events apply to Oak Consulting for Year 2:
Balance
$28,500
22,900
14,400
26,400
10,600
1. Provided $67,000 of services on account.
2. Incurred $3,100 of operating expenses on account.
3. Collected $45,800 of accounts receivable.
4. Paid $37,300 cash for salaries expense.
5. Paid $15,750 cash as a partial payment on accounts payable.
6. Paid a $8,300 cash dividend to the stockholders.
b. & d. Post the beginning balances and the transactions from Part a to the appropriate accounts. Later, post the closing entries from
Part d.
Beg. Bal
Cash
Beg. Bal
Accounts Receivable
Expert Solution
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