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The following selected transactions apply to Topeca Supply for November and December, Year t November was the first month of operations. Sales tax is collected

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The following selected transactions apply to Topeca Supply for November and December, Year t November was the first month of operations. Sales tax is 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 1 were $165,000 plus sales tax of 7 percent. 2. Topeca Supply paid the November sales tax to the state agency on December 10, Year 1. 3. Cash sales for December, Year 1 were $180,000 plus sales tax of 7 percent Required a. 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 activity (A), of 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 P ? c. What was the total amount of sales tax collected in Year 1 ? d. What is the amount of the sales tax lability as of December 31, Year 17 e. On whilch financiat statement wilt the sales tax llability appear? Complete this question thy entering your answers in the tabs below. Show the effect of thin atwere tiansactions of a statements model like the one shown as folom. in the Cash flom column, Indicate whether the lemis an operating activar (OA ), an investing artivity (iA), of a financing activity (fA), If an element s not affected by the event, leave the cell blank. (Enter any decirases to account Complete this question by entering your answers in the tabs below. 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 ogerating activity (OA); an investing activity (IA), of a financing activity (FA). If an element is not affected by the event, leave the cell blank: (Fnier any decreases to account balances and casti outhows with a minus sign. Not all cells will require entry.) Complete this question by entering your answers in the tabs below. 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 1 ? d. What is the amount of the sales tax liability as of December 31 , Year 1 ? c. On which financial statement will the sales tax llability appear

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