Question: prepare a balance sheet and a statement of cash flows.1. on january 1,2015 ARRC issued common stock for $450,0002. Early in Jan. ARRG made the following cash payments:A) for store fixtures $49,000B) for merch. inv. $290,000C) for rent expense on a store bulding $16,0003. Later in the year, ARRC purchased merch. inv. on account for $245,000. Before year-end, ARRC paid $155,000 of this account payable4. During 2015 ARRC sold 2,800 units of merch. inv. for $325 each. before year-end the comp. collected 80% of this amt. COGS for the year was $260,000 and the ending merch. inventory totaled $275,0005. The store employs 3 people. The combined annual payroll in $92,000 of which ARRC still owes $6,000 at year-end6. Late in 2015, ARRC paid cash dividends of $41,0007. For store fixtures, ARRC uses the straight-line depreciation method over 5 yrs.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more