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1 operations. Sales taxis collected at the time of sale but is not paid to the state sales tax agency until the following month 1.

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1 operations. Sales taxis collected at the time of sale but is not paid to the state sales tax agency until the following month 1. Cash sales for November Year I were $64,500 plus sales tax of 8 percent 2. Topeca Supply paid the November sales tax to the state agency on December 10, Year 1 3. Cash sales for December Year I were $80.000 plus sales tax of 8 percent 5 points ebook Required Show the effect of the above transactions on a statements model like the one shown as follows in the Cash Flow column, indicate whether the item is an operating activity (OA), an investing octivity A). or a financing activity (FA) If an element is not affected by the event, leave the cell blank b. What was the total amount of sales tax paid in Year 1 c. What was the total amount of sales tax collected in Year d. What is the amount of the sales tax liability as of December 31, Year 1? e. On which financial statement the sales taxability appear? 0 Complete this question by entering your answers in the tabs below. Reference Rega Reato Show the effect of the above transactions on statements module the one shown as follows in the Cash Flow Colum, ledicate whether the item is an operating activity (OA), an investing activity (A) or a financing activity (MA). Ir an element is not affected by the event, leave the cell bank. (Enter any decreases to account balances and cash outflows with sign. Not all cell will require entry) TOPECA SUPPLY Horizontal Statements Model Stockholder's Equity Income Statement Common Red Revenue Nincome Stock Earings Liabilities Sales Payable Event Statement Cash Flows 1 2 3 - .

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