Question

I need somebody to help complete this table. Please help me by showing the work good, so I can know were to put the numbers.

Ko Questions 2-7 (of 7) The following information applies to the questions displayed below At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable25,000 Accounts payable Common stock Retained earnings Balance $42,000 8,400 24,000 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. Paid an $10,000 cash dividend to the stockholders.

Answer 1

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you.
Cash					Accounts Receivable
Debit		Debit			Debit		Debit
Beginning	$ 42,000	4	$120,000		Beginning	$ 25,000	3	$140,000
3	$140,000	5	$ 31,400		1	$185,000
		6	$ 10,000
Ending	$ 20,600				Ending	$ 70,000
Accounts Payable					Common Stock
Debit		Debit			Debit		Debit
5	$ 31,400	Beginning	$    8,400				Beginning	$ 24,000
		2	$ 45,800
		Ending	$ 22,800				Ending	$ 24,000
Retained earning					Dividend
Debit		Debit			Debit		Debit
Dividends	$ 10,000	Beginning	$ 34,600		6	$ 10,000	Retained Earning	$ 10,000
		Income Summary	$ 19,200
		Ending	$ 43,800		Ending	$           -
Service Revenue					Operating Expense
Debit		Debit			Debit		Debit
Income Summary	$185,000	1	$185,000		2	$ 45,800	Income Summary	$ 45,800
Salaries Expense					Income Summary
Debit		Debit			Debit		Debit
4	$120,000	Income Summary	$120,000		Operating Expense	$ 45,800	Service Revenue	$185,000
					Salaries Expense	$120,000
					Retained Earning	$ 19,200