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I need assistance with these two problems. The class is ACC502 for GCU. I will need it by Tuesday night. If you can help me
I need assistance with these two problems. The class is ACC502 for GCU. I will need it by Tuesday night. If you can help me please let me know.
Thank you,
NF
Problem P16-34A P16A-37A ROLLING HILLS, INC. Statement of Cash Flows Year Ended December 31, 2015 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Net Cash Used for Investing Activities Cash Flows from Financing Activities: Net Cash Used for Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2014 Cash Balance, December 31, 2015 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Plant Assets 12/31/2014 107,640 Acquisitions Disposed of 12/31/2015 Accumulated DepreciationPlant Assets 17,940 12/31/2014 Depreciation Expense Disposed of 12/31/2015 Retained Earnings 6,600 12/31/2014 Net Income Dividend 12/31/2015 Notes Payable 101,000 12/31/2014 Issuance Payment 12/31/2015 How will what you learned in this problem help you evaluate an investment? ROLLING HILLS, INC. Statement of Cash Flows Year Ended December 31, 2015 Cash Flows from Operating Activities: Receipts: Payments; Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Net Cash Used for Investing Activities Cash Flows from Financing Activities: Net Cash Used for Financing Activities Net Increase (Decrease) in Cash Cash Balance, December 31, 2014 Cash Balance, December 31, 2015 Non-cash Investing and Financing Activities: Acquisition of Land by issuing Long-term Notes Payable Total Non-cash Investing and Financing Activities Sales Revenue + Beginning Accounts Receivable Ending Accounts Receivable = Cash receipts from customers Cost of Goods Sold Beginning Merchandise Inventory +Ending Merchandise Inventory +Beginning Accounts Payable Ending Accounts Payable Cash paid for merchandise inventory Operating Expenses + Beginning Accrued Liabilities Ending Accrued Liabilities = Cash receipts from customers Cash Payments to Suppliers For Inventory For Operating Expenses Total Plant Assets 12/31/2014 107,640 Acquisitions Disposed of 12/31/2015 Accumulated DepreciationPlant Assets 17,940 12/31/2014 Depreciation Expense Disposed of 12/31/2015 Retained Earnings 6,600 12/31/2014 Net Income Dividend 12/31/2015 Notes Payable 101,000 12/31/2014 Issuance Payment 12/31/2015 How will what you learned in this problem help you evaluate an investmentStep by Step Solution
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