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Help please, I will give good rating. c. What is the total amount of current liabilities at December 31, Year 1? Note: Round your answer

Help please, I will give good rating.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed c. What is the total amount of current liabilities at December 31, Year 1? Note: Round your answer to the nearest dollar amount. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ OZARK SALES } \\ \hline \multicolumn{2}{|c|}{ For the Year Ended December 31, Year 1 } \\ \hline Cash flows from operating activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from operating activities & & $ \\ \hline Cash flows from investing activities: & & \\ \hline Cash flows from financing activities & & \\ \hline & & \\ \hline & & \\ \hline Nending cash balance & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ OZARK SALES } \\ \hline As of December 31, Year 1 \\ \hline Assets & & \\ \hline & & \\ \hline Total assets & & $ \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' equity & & \\ \hline & & \\ \hline Total liabilities and stockholders' equity & & \\ \hline \end{tabular} \begin{tabular}{|l|l|r|} \hline \multicolumn{2}{|c|}{ OZARK SALES } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline & & \\ \hline & & \\ \hline For the Year Ended December 31, Year 1 \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total expenses & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{13}{|c|}{ Effect of Transactions on Financial Statements } \\ \hline \multirow[b]{2}{*}{ Event } & \multicolumn{5}{|c|}{ Balance Sheet } & \multicolumn{5}{|c|}{ Income Statement } & \multirow{2}{*}{\multicolumn{2}{|c|}{ Statement of Cash Flows }} \\ \hline & Assets & = & Liabilities & + & Equity & Revenue & - & Expenses & = & Net Income & & \\ \hline 1. & + & = & & + & + & & - & & = & & + & FA \\ \hline 2. & & = & & + & & & - & & = & & & \\ \hline 3a. & & = & & + & & & - & & = & & & \\ \hline 3b. & & = & & + & & & - & & = & & & \\ \hline 4. & & = & & + & & & - & & = & & & \\ \hline 5. & & = & & + & & & - & & = & & & \\ \hline 6. & & = & & + & & & - & & = & & & \\ \hline 7. & & = & & + & & & - & & = & & & \\ \hline 8. & & = & & + & & & - & & = & & & \\ \hline 9. & & = & & + & & & - & & = & & & \\ \hline 10. & & = & & + & & & - & & = & & & \\ \hline \end{tabular} Exercise 9-8A (Algo) Current liabilities LO 9-1, 9-2, 9-4 [The following information applies to the questions displayed below.] The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $50,000 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $208,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $133,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 3 percent of sales. 5. Paid the sales tax to the state agency on $158,500 of the sales. 6. On September 1, Year 1, borrowed $20,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2. 7. Paid $5,400 for warranty repairs during the year. 8. Paid operating expenses of $52,000 for the year. 9. Paid $125,600 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6

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