Reference no: EM131783715
Assignment
|
Boca Inc.
Balance Sheets
01-12-31
|
|
Assets
|
2018
|
2017
|
|
Cash
|
60,800
|
48,400
|
|
Accounts Receivable
|
87,800
|
38,000
|
|
Inventory
|
102,850
|
112,500
|
|
Prepaid Expenses
|
28,400
|
26,000
|
|
Long-term Investments
|
138,000
|
109,000
|
|
Plant Assets
|
347,000
|
242,500
|
|
Accumulated depreciation
|
-50,000
|
-52,000
|
|
Total
|
714,850
|
524,400
|
|
Liabilities and Stockholders' Equity
|
|
|
|
Accounts Payable
|
67,300
|
72,000
|
|
Accrued Expenses Payable
|
21,000
|
13,500
|
|
Dividends Payable
|
3,000
|
-
|
|
Bonds Payable
|
170,000
|
146,000
|
|
Bonds Payable
|
262,000
|
175,000
|
|
Retained Earnings
|
191,550
|
117,900
|
|
Total
|
714,850
|
524,400
|
Additional Information:
1. Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash.
2. A new plant asset was purchased directly in exchange for common stock valued at $42,000.
3. New bonds were issued at par for $60,000.
4. 2018 Net income was $154,480.
5. A $1,000 prior period adjustment was recorded in 2018to correct an understatement of depreciation in 2015. The 2017 balance sheet is appropriately restated.
6. Accounting for the long-term investments was appropriately using the equity method. Boca's share of investee net income was $20,000. Other changes in Long-term investments were caused by additional stock purchases. No dividends were received.
Required
1. Prepare a 2018 statement of cash flows using the indirect method. Use the textbook format (pages 1,420, 1,423, 1,427). Do not submit supporting computations.
SUBMISSION INFORMATION:
• Submit the assignment in Excel using one page. Include your Name, Date, ACC Course, and Homework #2 in the upper left corner.
• Submit your assignment through the upload feature within Moodle. Assignments should not be emailed to the instructor.
|
Developer of advanced security systems
: IDX Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development? strategy
|
|
What is bellfonts production cost per door stopper
: Bellfont expects to produce 100,000 door stoppers. Assuming no structural changes, what is Bellfont's production cost per door stopper for September?
|
|
Discuss about the method of cofactors
: In the method of cofactors, App. C.4, the cofactors of the horizontal row, and not of the column, must be used. Explain why.
|
|
Difference between compensatory-punitive and nominal damage
: Explain the role of courts of original jurisdiction and those of appellate jurisdiction. Discuss difference between compensatory, punitive, and nominal damages.
|
|
Prepare a statement of cash flows using the indirect method
: Prepare a 2018 statement of cash flows using the indirect method. Use the textbook format (pages 1,420, 1,423, 1,427). Do not submit supporting computations.
|
|
Determine the eigenvalues and eigenvectors for ki
: Draw a few other diagrams of systems equivalent to Figure, and determine the eigenvalues and eigenvectors for ki and mi assigned by your instructor.
|
|
Present value of the ordinary annuity
: The interest rate is positive and the same for all three investments. Given this information which of the following statements is correct?
|
|
What is the sample standard deviation of the data
: A national newspaper reported that employees of most companies have an average balance of $38,000 in their 401K accounts. What is the mean of the data
|
|
Analysis based off of global expansion for company nucor
: Provide a cost benefit analysis based off of global expansion for the company Nucor.
|