Answer full question please. ExitRequired information[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 $203,000 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise issold. The merchandise had a cost of $128,000.4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amountto 4 percent of sales.5. Paid the sales tax to the state agency on $153,000 of the sales.6. On September 1, Year 1, borrowed $20,500 from the local bank. The note had a 6 percent interest rate and matured onMarch 1, Year 2.7. Paid $5,600 for warranty repairs during the year.8. Paid operating expenses of $55,000 for the year.9. Paid $124,200 of accounts payable.10. Recorded accrued interest on the note issued in transaction no 6. 3b-2. Prepare the balance sheet for Year 1. (Round your answers to the nearest dollar amount.)Part 2 of 3OZARK SALESBalance SheetAs of December 31, Year 110AssetspointsTotal assetsеВookLiabilitiesTotal liabilitiesStockholders' equityTotal stockholders' equityTotal liabilities and stockholders' equity

The question is based on the concept of Final Accounts.

Answered: The following transactions apply to…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4E

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Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the liquidity metric days’ sales in receivables and profiability metric return on sales.
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#2 Category. Prior Year Current Year Accounts payable 3,136.00 5,904.00 Accounts receivable 6,838.00 9,068.00 Accruals 5,663.00 6,026.00 Additional paid in capital 20,182.00 13,570.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,844.00 18,591.00 Current portion long-term debt 500 500 Depreciation expense 955.00 1,036.00 Interest expense 1,275.00 1,169.00 Inventories 3,020.00 6,732.00 Long-term debt 16,947.00 22,144.00 Net fixed assets 75,056.00 74,173.00 Notes payable 4,022.00 6,569.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,957.00 34,753.00 Sales 46,360 45,431.00 Таxes 350 920 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places.
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Required information. [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year. $ 25,603 74,949 91,435 8,163 233,807 $ 433,957 1 Year Ago $ 108,055 79,952 162,500 83,450 $ 433,957 $ 30,826 52,374 69,901 7,699 213,301 $374,101 Liabilities and Equity Accounts payable $63,223 Long-term notes payable. Common stock, $10 par value 88,625 163,500 Retained earnings 58,753 Total liabilities and equity $ 374,101 For both the current year and one year ago, compute the following ratios: 2 Years Ago $32,110 42,398 44,716 3,533 192,143 $314,900 $ 41,567 68,201 163,500 41,632 $314,900 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, Is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3.…

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