Question

Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [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 $ 42,000 25,000 8,400 24,000 34,600 The following events apply to Oak Consulting for Year 2: 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. Paid a $10,000 cash dividend to the stockholders.

Answer 1

Book1 - Excel Vishwadeep Kondle VK х File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do 2. Share Calibri - 11 -R Á ab Wrap Text Custom AT O FA % Cut Copy Format Painter Clipboard Paste Accento Comma [0] BIU. 8.A A- ► Merge & Center -% Accents Conditional Format as Comma Formatting - Table Styles 4903 00 Insert Delete Format Σ AutoSum - Fill - Sort & Find & Clear Filter - Select - Editing 15 Font Alignment Number Cells E6 X for oak consulting A B с C D E F G H K L M N 0 р Q F 2 3 4 5 6 oak consulting liabilities 7 Assets + revenue stock holders equity common stock 24,000 8 8 cash + + no bal accounts payable 8,400 9 42,000 + + account receivables = 25,000 = 1,85,000 = -14,00,000 = retained earnings 34,000 1,85,000 -45,000 10 1 + + 1,85,000 2 + 45,800 + 11 12 13 3 + - + -1,20,000 4 5 14 1,40,000 + -1,20,000 + -31,400 + -10,000 + 20,600 + -31,400 + 15 6 + - 10,000 43,800 bal 70,000= 22,800 + 24,000 1,85,000 16 17 18 + + 19 20 21 22 23 24 25 Sheet1 Sheet2 + Ready 115% grime + 01:56 AM 25-09-2020 E Type here to search mus video ? A 40) ENG