Requlred Information
Exercise A Algo Recording events in the general journal, posting to Taccounts, and preparing
closing entries LO
The following information applies to the questions displayed below.
At the beginning of Year Oak Consulting had the following normal balances in its accounts.
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.
Exerclse A Algo Part d
d Record the closing entries in the general joumal and post them to the Taccounts
d What is the amount of net income for the year?
Complete this question by entering your answers in the tabs below.
Record the closing entries in the general journal and post them to the TaccountsIf no entry is required for a transactionevent
select No journal entry required" in the first account field.
