ACCT 312 Week 6 Homework Solutions, E21-14, E21-21, P21-4


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ACCT 312 Week 6 Homework Solutions

Exercise 21–14: Identifying cash flows from investing activities and financing activities

LO21–5, LO21–6: In preparation for developing its statement of cash flows for the year ended December 31, 2016. Millennium Solutions, Inc., collected the following information ($ in millions):

Exercise 21–21: Cash flows from operating activities (direct method) derived from an income statement and cash flows from operating activities indirect method)

LO21–3, LO21–4:The income statement and a schedule reconciling cash flows from operating activities to net income are …… below ($ in 000s) for Peach Computers.

Problem 21–4: Summary entries for cash received from customers

LO21–3: For each of the three independent situations below. Prepare journal entries that summarize the selling and collection activities for the reporting period in order to determine the amount of cash received from customers. And to explain the change in each account shown. All dollars are in millions

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