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10:11 1. Horizontal Statements Model - Comment if you have any queries related to this question. Thank You... Happy Chegging! All the best Required a. Record the given transactions in a horizontal statements model like the following one (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, indicate whether the item is an operating activity (OA), an Investing activity (1A), or a financing activity (FA), and leave the cell blank if there is no effect. Do not round Intermediate calculations and round your answers to the nearest whole dollar amounts.) OZARK Horizontal Statement Model Income Statement Stockholders' Equity Not Interest Notes Common Retained Revenue Expene Income Payable Payable E amingo Assets Balance Sheet Liabilities Sales Tax Warranty Payable Payable Event NO same Cash Merchandise Inventory Accounts Payable 1. 2 Ja 3b 5. 6 7. + + + 8 9. 10, Bal 01. 0 0 0 0+ 0 0+ 10:11 1. Horizontal Statements Model - Comment if you have any queries related to this question. Thank You... Happy Chegging! All the best wwwwww www vesting activity (IA), or a financing activity (FA), and leave the cell blank If there is no effect. Do not round Intermediate alculations and round your answers to the nearest whole dollar amounts.) Balance Sheet Liabilities Assets Merchandise Inventory OZARK Horizontal Statement Model Income Statement Stockholders' Equity Net Interest Notes Common Retained Revenue - Expense- Income Payable Payable Stock Earnings Statement of Flow Cash Accounts Payable Sales Tax Payable Warranty Payable . sta 1 + . - + + + + . + + + + 0 0 0. 0. 0+ 0+ cences 0 0- 0 0 = 1 1 Required information The following information applies to the questions displayed below) The following transactions apply to Ozark Sales for 2018: 1. The business was started when the company received $50,000 from the issue of common stock 2. Purchased equipment inventory of $177,500 on account 3. Sold equipment for $199,500 cash (not including sales tax), Sales tax of 6 percent is collected when the merchandise is sold. The merchandise had a cost of $124.500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $149,500 of the sales. 6. On September 1, 2018, borrowed $19.000 from the local bank. The note had a 6 percent interest rate and matured on March 1, 2019 7. Paid $5.700 for warranty repairs during the year. 8. Pald operating expenses of $53,000 for the year. 9. Paid $125,500 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. Required a. Record the given transactions in a horizontal statements model like the following one. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA), and leave the cell blank if there is no effect. Do not round intermediate calculations and round your answers to the nearest whole dollar amounts.) Check my work 10. Hecorded accrued interest on the note issued in transaction no. 6. Required a. Record the given transactions in a horizontal statements model like the following one. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, indicate whether the item is an operating activity (OA), an Investing activity (A), or a financing activity (FA), and leave the cell blank if there is no effect. Do not round Intermediate calculations and round your answers to the nearest whole dollar amounts) Event No Status Assets Merchandise Inventory OZARK Horizontal Statement Model Income Statement Stockholders' Equity Interest Notes Comon Retained Revenue Expense Payable Payable Stock Earnings 50,000 Balance Sheet Liabilities Sales Tax Warranty Payable Payable Net Income Cash Accounts Payable 1 50,000 500 177.600 177.500 2 Ja 211,470 + 11,970 199,500 30 . (124,500 124.500 7,980 + 4 7.980 (8,970) 5. 6 199,500 211,4 (124,500) 17,980) (8,07 190 (53,000) (5,70 (53.00 (380) (125,56 19.000 (8.970) 19.000+ (5,700) (53,000) (125,500) 7 (5,700) 53,000 8 9 + (125,500) . 300+ 380 10 . . Ba 87,300 53,000 52,000+ 3,000 + 2.280 300+ 19,000 50,000 0 199,500 185,860 13,840 873 b. Prepare the income statement, balance sheet, and statement of cash flows for 2018 Complete this question by entering your answers in the tabs below. Req B Inc Stmt Reg B Bal Sheet Reg B Stmt Cash Flows Prepare the income statement for 2018. (Do not round Intermediate calculations and round your answers to the nearest whole dallar amount.) OZARK SALES Income Statement For the Year Ended December 31, 2018 Expenses 0 Total operating expenses Wom Req B Bal Sheet > CC 1 Required information Prepare the balance sheet for 2018. (Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) OZARK SALES Balance Sheet As of December 31, 2018 Assets $ 0 Total assets Liabilities $ 0 Total liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ $ 0 H. Next Required information Strmt Sheet Cash Flows Prepare the statement of cash flows for 2018. (Do not round intermediate calculations and round your answers to the nearest whole dollar amount. Amounts to be deducted should be indicated with a minus ston) OZARK SALES Statement of Cash Flown For the Year Ended December 31, 2018 Cash flows from operating activities $ 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities 0 Net cash flows from financing activities Nel change in cash 0 $ 0 Ending cash balance 10:11 1. Horizontal Statements Model - Comment if you have any queries related to this question. Thank You... Happy Chegging! All the best wwwwww www vesting activity (IA), or a financing activity (FA), and leave the cell blank If there is no effect. Do not round Intermediate alculations and round your answers to the nearest whole dollar amounts.) Balance Sheet Liabilities Assets Merchandise Inventory OZARK Horizontal Statement Model Income Statement Stockholders' Equity Net Interest Notes Common Retained Revenue - Expense- Income Payable Payable Stock Earnings Statement of Flow Cash Accounts Payable Sales Tax Payable Warranty Payable . sta 1 + . - + + + + . + + + + 0 0 0. 0. 0+ 0+ cences 0 0- 0 0 = 1 1 Required information The following information applies to the questions displayed below) The following transactions apply to Ozark Sales for 2018: 1. The business was started when the company received $50,000 from the issue of common stock 2. Purchased equipment inventory of $177,500 on account 3. Sold equipment for $199,500 cash (not including sales tax), Sales tax of 6 percent is collected when the merchandise is sold. The merchandise had a cost of $124.500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $149,500 of the sales. 6. On September 1, 2018, borrowed $19.000 from the local bank. The note had a 6 percent interest rate and matured on March 1, 2019 7. Paid $5.700 for warranty repairs during the year. 8. Pald operating expenses of $53,000 for the year. 9. Paid $125,500 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. Required a. Record the given transactions in a horizontal statements model like the following one. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA), and leave the cell blank if there is no effect. Do not round intermediate calculations and round your answers to the nearest whole dollar amounts.) Check my work 10. Hecorded accrued interest on the note issued in transaction no. 6. Required a. Record the given transactions in a horizontal statements model like the following one. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, indicate whether the item is an operating activity (OA), an Investing activity (A), or a financing activity (FA), and leave the cell blank if there is no effect. Do not round Intermediate calculations and round your answers to the nearest whole dollar amounts) Event No Status Assets Merchandise Inventory OZARK Horizontal Statement Model Income Statement Stockholders' Equity Interest Notes Comon Retained Revenue Expense Payable Payable Stock Earnings 50,000 Balance Sheet Liabilities Sales Tax Warranty Payable Payable Net Income Cash Accounts Payable 1 50,000 500 177.600 177.500 2 Ja 211,470 + 11,970 199,500 30 . (124,500 124.500 7,980 + 4 7.980 (8,970) 5. 6 199,500 211,4 (124,500) 17,980) (8,07 190 (53,000) (5,70 (53.00 (380) (125,56 19.000 (8.970) 19.000+ (5,700) (53,000) (125,500) 7 (5,700) 53,000 8 9 + (125,500) . 300+ 380 10 . . Ba 87,300 53,000 52,000+ 3,000 + 2.280 300+ 19,000 50,000 0 199,500 185,860 13,840 873 b. Prepare the income statement, balance sheet, and statement of cash flows for 2018 Complete this question by entering your answers in the tabs below. Req B Inc Stmt Reg B Bal Sheet Reg B Stmt Cash Flows Prepare the income statement for 2018. (Do not round Intermediate calculations and round your answers to the nearest whole dallar amount.) OZARK SALES Income Statement For the Year Ended December 31, 2018 Expenses 0 Total operating expenses Wom Req B Bal Sheet > CC 1 Required information Prepare the balance sheet for 2018. (Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) OZARK SALES Balance Sheet As of December 31, 2018 Assets $ 0 Total assets Liabilities $ 0 Total liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ $ 0 H. Next Required information Strmt Sheet Cash Flows Prepare the statement of cash flows for 2018. (Do not round intermediate calculations and round your answers to the nearest whole dollar amount. Amounts to be deducted should be indicated with a minus ston) OZARK SALES Statement of Cash Flown For the Year Ended December 31, 2018 Cash flows from operating activities $ 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities 0 Net cash flows from financing activities Nel change in cash 0 $ 0 Ending cash balance