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Rattigan Company's income statement contained the condensed information below. RATTIGAN COMPANY Income Statement For the Year Ended December 31, 2012 Sales revenue $1,358,000 Operating expense, excluding depreciation $873,600 Depreciation expense 84,000 Loss on sale of equipment 22,400 980,000 Income before income taxes 378,000 Income tax expense 132,300 Net income $245,700 Alicia's balance sheet contained the following comparative data at December 31: 2012 2011 Accounts receivable $105,000 $84,000 Accounts payable 57,400 39,200 Income taxes payable 15,400 9,800 Accounts payable pertains to operating expenses. Instructions: Prepare the operating activities section of the statement of cash flows using the indirect method. RATTIGAN COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities Net Income $??? "Adjustments to reconcile net income to net cash provided by operating activities" Depreciation expense $??? Loss on sale of equipement $??? Increase in accounts payable Amount Increase in accounts payable Amount Increase in accounts receivable Amount Formula Net cash provided by operating activities Formula
your client is planning to invest some of its excess cash in 5-year revenue bonds issued by the county. to avoid
To start a new partnership, Partner A contributed an asset worth $45,000 with a $5,000 debt secured by it. Partner B loaned an asset worth $40,000 with no loans against it. How much should be credited to Partner A's capital account and how muc..
Piper's income before depreciation, before income taxes, and before the cummulative effect of the accounting change (if any), for the year ended december 31, 2011, is $250,000. The income tax rate for 2011, as well as for the years.
deckyard company distributes a lightweight lawn chair that sells for 80 per unit. variable expenses are 40.00 per unit
For the current year, David has salary income of $80,000 and the following property transactions: What is David's AGI for the current year?
Preparation of Cash flow statement and computing net cash flow, From the following selected data, compute:
what effect do interest rates have on the calculation of future and present value?how does the length of time affect
clevette howard cpa controller for craig inc. was reviewing production cost reports for the year. one amount in these
Security A has an expected rate of return of 6%, as standard deviation of returns of 30%, a correlation coefficient with the market of -0.25, and a beta coefficient of -0.5. Security B has an expected return of 11%, a standard deviation of returns..
a company had common stock with a total par value of 18000000 and fair value of 62000000 and 7 preferred stock with a
christine is employed full-time as an accountant for a national hardware chain. she also has a private consulting
Montana Co. has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining to that inventory is as follows: What should be the carrying value of Montana's inventory?
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