The following information was drawn from the 2016 accounting records of ozark merchandisers: 1. inventory that had cost $21,200 was sold for $39,900 under terms 2/20, net/30. 2. customers returned merchandise to ozark five days after the purchase. the merchandise had been sold for a price of $1,520. the merchandise had cost ozark $920. 3. all customers paid their accounts within the discount period. 4. selling and administrative expenses amounted to $4,200. 5. interest expense paid amounted to $360. 6. land that had cost $8,000 was sold for $9,250 cash. determine the amount of net sales prepare a multistep income statement. where would the interest expense be shown on the statement of cash flows? a. operating activitiesb. investing activitiesc. financing activitieshow would the sale of the land be shown on the statement of cash flows? a. the full sales price of the land, $9,250, would be shown as a cash inflow from financing activities on the statement of cash flows. b. the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows. c. the full sales price of the land, $9,250, would be shown as a cash inflow from operating activities on the statement of cash flows

Barbara jones opened barb’s book business on february 1, 2010. the company specilizes in editing accounting textbooks. you have been hired as manager. your duties include maintaining the company’s financial records. the following transactions occurred in february , the first month of operations. a. received shareholders' cash contributions on february 1 totaling $16,000 to form the corporation; issued 1,000 shares of common stock. b. paid $2,400 cash on february 2 for three months' rent for office space. tip: for convenience, simply record the full amount of the payment as an asset (prepaid rent). at the end of the month, this account will be adjusted to its proper balance. c. purchased and received supplies on february 3 for $300 cash. d. signed a promissory note on february 4, payable in two years; deposited $10,000 in the company's bank account. e. on february 5, paid cash to buy equipment for $2,500 and land for $7,500. f. placed an advertisement in the local paper on february 6 for $425 cash. g. recorded sales on february 7 totaling $1,800; $1,525 was in cash and the rest on accounts receivable. h. collected accounts receivable of $50 from customers on february 8. i. on february 9, repaired one of the computers for $120 cash. tip: most repairs involve costs that do not provide additional future economic benefits. j. incurred and paid employee wages on february 28 of $420.required: set up appropriate t-accounts for cash, accounts receivable, supplies, prepaid rent, equipment, furniture and fixtures, notes payable, contributed capital, service revenue, advertising expense, wages expense, and repair expense. all accounts begin with zero balances.tip: when preparing the t-accounts, you might find it useful to group them by type: assets, liabilities, stockholders’ equity, revenues, and expenses.2. record in t-accounts the effects of each transaction in february, referencing each transaction in the accounts with the transaction letter. show the unadjusted ending balances in the t-accounts. 3. prepare an unadjusted trial balance at the end of february.4. refer to the revenues and expenses shown on the unadjusted trial balance. based on this information, write a short memo offering your opinion on the results of operations during the first month of business.

Suppose that the world price of steel is $100 a ton, india does not trade internationally, and the equilibrium price of steel in india is $60 a ton. suppose that india now begins to trade internationally. the price of steel in india the quantity of steel produced in india a. does not change; does not change b. falls; increases c. falls; decreases d. rises; decreases e. rises; increases the quantity of steel bought by india india steel. a. increases; exports b. decreases; imports c. decreases; exports d. does not change; neither imports nor exports e. increases; imports

Discuss ways that oracle could provide client customers with the ability to form better relationships with customers.