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Required information [ The following information applies to the questions displayed below. ] The following transactions apply to Ozark Sales for Year 1 : The
Required information The following information applies to the questions displayed below. The following transactions apply to Ozark Sales for Year : The business was started when the company received $ from the issue of common stock. Purchased equipment inventory of $ on account. Sold equipment for $ cash not including sales tax Sales tax of percent is collected when the merchandise is sold. The merchandise had a cost of $ Provided a sixmonth warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to percent of sales. Paid the sales tax to the state agency on $ of thes sales. On September Year borrowed $ from the local bank. The note had a percent interest rate and matured on March Year Paid $ for warranty repairs during the year. Paid operating expenses of $ for the year. Paid $ of accounts payable. Recorded accrued interest on the note issued in transaction no Prepare the income statement for year Prepare the balance statement for year Prepare the statement kf cash flows for year
Required information
The following information applies to the questions displayed below.
The following transactions apply to Ozark Sales for Year :
The business was started when the company received $ from the issue of common stock.
Purchased equipment inventory of $ on account.
Sold equipment for $ cash not including sales tax Sales tax of percent is collected when the merchandise is sold. The merchandise had a cost of $
Provided a sixmonth warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to percent of sales.
Paid the sales tax to the state agency on $ of thes sales.
On September Year borrowed $ from the local bank. The note had a percent interest rate and matured on March Year
Paid $ for warranty repairs during the year.
Paid operating expenses of $ for the year.
Paid $ of accounts payable.
Recorded accrued interest on the note issued in transaction no
Prepare the income statement for year
Prepare the balance statement for year
Prepare the statement kf cash flows for year
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