ACC 303/503 Homework #2 (R) OL Boca Inc.

ACC 303/503Homework #2 (R) OLBoca Inc.Balance SheetsDecember 31Assets20202019Cash60,80048,40012, 400Accounts Receivable97,80038,00059, (302)Inventory102,850112,5009, 650Prepaid Expenses28,40025,00031 400Long-term Investments138,000109,00029, 008Plant Assets347,000242,500104, 500Accumulated depreciation(50,000)(52,000)21 0250Total724,850523,400Liabilities and Stockholders’ EquityAccounts Payable77,30072,0005, 302Accrued Expenses Payable21,00012,50081 502Dividends Payable3,0003, 020Bonds Payable170,000146,00024, 000Common Stock262,000175,00087,007Retained Earnings191,550117,900731650Total724,850523,400Additional Information:1. Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 weresold for $1,500 cash.2. A new plant asset was purchased directly in exchange for common stock valued at $40,000.3. New bonds were issued at par for $60,000.4. 2020 Net income was $154,480.5. A $1,000 prior period adjustment was recorded in 2020 to correct an understatement ofdepreciation in 2015. The 2019 balance sheet is appropriately restated.6. Accounting for the long-term investments was appropriately using the equity method. Boca’s shareof investee net income was $20,000. Other changes in Long-term investments were caused byadditional stock purchases. No dividends were received.Required1. Prepare a 2020 statement of cash flows using the indirect method. Use the textbook format (pages1,339, 1,342, 1,345). Do not submit supporting computations.Submission Instructions:Submit the assignment in Excel using one page. Include your Name, Date, ACC Course, andHomework #2 in the upper left corner.Submit your assignment through the upload feature within Moodle. Assignments should not beemailed to the instructor. PLEASE BE SURE YOUR ASSIGNMENT IS ACTUALLY SUBMITTED ANDNOT IN “DRAFT” STATUS. There is a requirement to click a box to acknowledge the submissionis your original work to complete the submission process.

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

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.

Money-back guarantee

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 more

Zero-plagiarism guarantee

Each 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 more

Free-revision policy

Thanks 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 more

Privacy policy

Your 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 more

Fair-cooperation guarantee

By 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