Homework Answers
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| No | Event | General Journal | Debit $ | Credit $ | |
| A | 1 | Accounts Receivable | 65,600 | ||
| Service Revenue | 65,600 | ||||
| (To record service revenue on credit) | |||||
| B | 2 | Operating Expenses | 3,300 | ||
| Accounts Payable | 3,300 | ||||
| (To record operating expenses on account) | |||||
| C | 3 | Cash | 46,400 | ||
| Accounts Receivable | 46,400 | ||||
| (To record cash receipt from credit customer) | |||||
| D | 4 | Salaries Expenses | 30,500 | ||
| Cash | 30,500 | ||||
| (To record salaries expenses) | |||||
| E | 5 | Accounts payable | 15,660 | ||
| Cash | 15,660 | ||||
| (To record payment made to accounts Payable) | |||||
| F | 6 | Dividend | 9,700 | ||
| Cash | 9,700 | ||||
| (To record cash dividend) | |||||
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General Journal А 1 Accounts receivable 65,600 65,600 В 2 Operating expenses 3,300 С 3 Cash...
entries LO 13-1, 13-2, 13-3, 13-4 [The following information applies to the questions displayed below.) At...
entries LO 13-1, 13-2, 13-3, 13-4 [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 $ 28,700 19,700 14,100 21,600 12,700 The following events apply to Oak Consulting for Year 2: 1. Provided $65.600 of services on account. 2. Incurred $3,300 of operating expenses on account. 3. Collected $46,400 of accounts receivable. 4....
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing...
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...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing...
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 $ 34,900 15,600 10,500 28,100 11,900 The following events apply to Oak Consulting for Year 2: 1. Provided $66,100 of services on...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing...
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 Balance Cash $ 27,300 Accounts receivable 19,600 Accounts payable 12,800 Common stock 23,700 Retained earnings 10,400 The following events apply to Oak Consulting for Year 2: 1. Provided $67,700 of services on...
7 [The following information applies to the questions displayed below] At the beginning of Year 2...
7 [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 $ 29,eee 19,300 14,eee 28, 2ee 14,100 Part 1 of 3 1.17 points The following events apply to Oak Consulting for Year 2: Skipped 1. Provided $67.700 of services on account. 2 Incurred $3,300 of operating expenses on account. 3. Collected $48.400 of...
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 $ 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:...
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 Year 2, Oak Consulting had the following normal balances in its accounts:...
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 $ 29,900 21,400 11,400 26,300 13,600 The following events apply to Oak Consulting for Year 2: 1. Provided $74,700 of services on account. 2. Incurred $3,500 of operating expenses on account. 3. Collected $47,700 of accounts receivable. 4. Paid $39,000 cash for salaries expense. 5. Paid $13,410 cash as a partial payment on...
At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:...
At the beginning of Year 2, 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 Consulting for Year 2:
Provided $185,000 of services on account.
Incurred $45,800 of operating expenses on account.
Collected $140,000 of accounts receivable.
Paid $120,000 cash for salaries expense.
Paid $31,400 cash as a partial payment on accounts
payable.
Paid a $10,000...
Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing...
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...
entries LO 13-1, 13-2, 13-3, 13-4 [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 $ 28,700 19,700 14,100 21,600 12,700 The following events apply to Oak Consulting for Year 2: 1. Provided $65.600 of services on account. 2. Incurred $3,300 of operating expenses on account. 3. Collected $46,400 of accounts receivable. 4....
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...
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 $ 34,900 15,600 10,500 28,100 11,900 The following events apply to Oak Consulting for Year 2: 1. Provided $66,100 of services on...
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 Balance Cash $ 27,300 Accounts receivable 19,600 Accounts payable 12,800 Common stock 23,700 Retained earnings 10,400 The following events apply to Oak Consulting for Year 2: 1. Provided $67,700 of services on...
7 [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 $ 29,eee 19,300 14,eee 28, 2ee 14,100 Part 1 of 3 1.17 points The following events apply to Oak Consulting for Year 2: Skipped 1. Provided $67.700 of services on account. 2 Incurred $3,300 of operating expenses on account. 3. Collected $48.400 of...
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 $ 29,900 21,400 11,400 26,300 13,600 The following events apply to Oak Consulting for Year 2: 1. Provided $74,700 of services on account. 2. Incurred $3,500 of operating expenses on account. 3. Collected $47,700 of accounts receivable. 4. Paid $39,000 cash for salaries expense. 5. Paid $13,410 cash as a partial payment on...
At the beginning of Year 2, 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 Consulting for Year 2:
Provided $185,000 of services on account.
Incurred $45,800 of operating expenses on account.
Collected $140,000 of accounts receivable.
Paid $120,000 cash for salaries expense.
Paid $31,400 cash as a partial payment on accounts
payable.
Paid a $10,000...
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...
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