At the beginning of Year 1, Oak Consulting had the following
normal balances in its accounts:
Account | Balance | |
Cash | $ | 32,900 |
Accounts receivable | 15,900 | |
Accounts payable | 10,800 | |
Common stock | 24,200 | |
Retained earnings | 13,800 | |
The following events apply to Oak Consulting for Year 1:
c. Show the beginning balances and the events
in a horizontal statements model such as the following one:
(In the Statement of Cash Flows column, use the initials
"OA" for operating activities, "FA" for financing activities and
"NC" for net change in cash. Select "NA" wherever required. Enter
any decreases to account balance and cash outflows with a minus
sign.)
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts:...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 32,900 Accounts receivable 15,900 Accounts payable 10,800 Common stock 24,200 Retained earnings 13,800 The following events apply to Oak Consulting for Year 1: Provided $68,000 of services on account. Incurred $3,000 of operating expenses on account. Collected $49,100 of accounts receivable. Paid $35,300 cash for salaries expense. Paid $12,420 cash as a partial payment on accounts payable. Paid a $8,300...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 32,900 Accounts receivable 15,900 Accounts payable 10,800 Common stock 24,200 Retained earnings 13,800 The following events apply to Oak Consulting for Year 1: Provided $68,000 of services on account. Incurred $3,000 of operating expenses on account. Collected $49,100 of accounts receivable. Paid $35,300 cash for salaries expense. Paid $12,420 cash as a partial payment on accounts payable. Paid a $8,300...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 32,900 Accounts receivable 15,900 Accounts payable 10,800 Common stock 24,200 Retained earnings 13,800 The following events apply to Oak Consulting for Year 1: Provided $68,000 of services on account. Incurred $3,000 of operating expenses on account. Collected $49,100 of accounts receivable. Paid $35,300 cash for salaries expense. Paid $12,420 cash as a partial payment on accounts payable. Paid a $8,300...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 32,900 Accounts receivable 15,900 Accounts payable 10,800 Common stock 24,200 Retained earnings 13,800 The following events apply to Oak Consulting for Year 1: Provided $68,000 of services on account. Incurred $3,000 of operating expenses on account. Collected $49,100 of accounts receivable. Paid $35,300 cash for salaries expense. Paid $12,420 cash as a partial payment on accounts payable. Paid a $8,300...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 32,900 Accounts receivable 15,900 Accounts payable 10,800 Common stock 24,200 Retained earnings 13,800 The following events apply to Oak Consulting for Year 1: Provided $68,000 of services on account. Incurred $3,000 of operating expenses on account. Collected $49,100 of accounts receivable. Paid $35,300 cash for salaries expense. Paid $12,420 cash as a partial payment on accounts payable. Paid a $8,300...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 32,200 Accounts receivable 16,600 Accounts payable 10,500 Common stock 27,400 Retained earnings 10,900 The following events apply to Oak Consulting for Year 1: Provided $67,000 of services on account. Incurred $2,900 of operating expenses on account. Collected $48,400 of accounts receivable. Paid $37,500 cash for salaries expense. Paid $12,060 cash as a partial payment on accounts payable. Paid a $10,000...
At the beginning of 2016, Oak Consulting had the following
normal balances in its accounts:
Account
Balance
Cash
$42,000
Accounts receivable
25,000
Accounts payable
8,400
Common stock
24,000
Retained earnings
34,600
The following events apply to Oak's Consulting for 2016:
1.
Provided $185,000 of services on account.
2.
Incurred $45,800 of operating expenses on account.
3.
Collected $140,000 of accounts receivable.
4.
Paid $120,000 cash for salaries expense.
5.
Paid $31,400 cash as a partial payment on accounts
payable.
6....
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 29,200 Accounts receivable 16,400 Accounts payable 12,200 Common stock 20,200 Retained earnings 13,200 The following events apply to Oak Consulting for Year 1: Provided $74,500 of services on account. Incurred $3,000 of operating expenses on account. Collected $50,000 of accounts receivable. Paid $36,000 cash for salaries expense. Paid $13,680 cash as a partial payment on accounts payable. Paid a $8,600...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 29,200 Accounts receivable 16,400 Accounts payable 12,200 Common stock 20,200 Retained earnings 13,200 The following events apply to Oak Consulting for Year 1: Provided $74,500 of services on account. Incurred $3,000 of operating expenses on account. Collected $50,000 of accounts receivable. Paid $36,000 cash for salaries expense. Paid $13,680 cash as a partial payment on accounts payable. Paid a $8,600...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts: Account Balance Cash $ 29,200 Accounts receivable 16,400 Accounts payable 12,200 Common stock 20,200 Retained earnings 13,200 The following events apply to Oak Consulting for Year 1: Provided $74,500 of services on account. Incurred $3,000 of operating expenses on account. Collected $50,000 of accounts receivable. Paid $36,000 cash for salaries expense. Paid $13,680 cash as a partial payment on accounts payable. Paid a $8,600...