At the beginning of Year 2, Oak Consulting had the following normal balances in its...
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Accounting
At the beginning of Year Oak Consulting had the following normal balances in its accounts. Account Balance Cash $ Accounts receivable Accounts payable Common stock Retained earnings The following events apply to Oak Consulting for Year : Provided $ of services on account. Incurred $ of operating expenses on account. Collected $ of accounts receivable. Paid $ cash for salaries expense. Paid $ cash as a partial payment on accounts payable. Paid a $ cash dividend to the stockholders. Exercise A Algo T accounts b & d Post the beginning balances and the transactions from Part a to the appropriate accounts. Select the event number for each transaction amount. Later, post the closing entries from Part d and select cl for each amount.
At the beginning of Year Oak Consulting had the following normal balances in its accounts.
Account Balance
Cash $
Accounts receivable
Accounts payable
Common stock
Retained earnings
The following events apply to Oak Consulting for Year :
Provided $ of services on account.
Incurred $ of operating expenses on account.
Collected $ of accounts receivable.
Paid $ cash for salaries expense.
Paid $ cash as a partial payment on accounts payable.
Paid a $ cash dividend to the stockholders.
Exercise A Algo T accounts
b & d Post the beginning balances and the transactions from Part a to the appropriate accounts. Select the event number for each transaction amount. Later, post the closing entries from Part d and select cl for each amount.
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