User Account

All Pages

Prepare operating activity section of statement for rattigan

Assignment Help Financial Accounting
Reference no: EM13887731

Rattigan Company's income statement contained the condensed information below.

Rattigan Company Income Statement

For the Year Ended December 31, 2014

Sales revenue                               Operating expenses, excluding depreciation

$624,000

$970,000

Depreciation expense

55,000

Loss on disposal of plant assets

25,000

704,000

Income before income taxes

266,000

Income tax expense

40,000

Net income

$226,000

Rattigan's balance sheet contained the comparative data at December 31, shown below.

 

2014

2013

Accounts receivable

$75,000

$60,000

Accounts payable

41,000

27,000

Income taxes payable

13,000

7,000

Accounts payable pertain to operating expenses.

Instructions

Prepare the operating activities section of the statement of cash flows using the indirect method.

Reference no: EM13887731

Questions Cloud

What fraction of wealth would investor invest in risky asset : Suppose an investor’s risk aversion coefficient is 3 and his utility function is U(r) = 1/2 E(r) − 1/2 A · V ar(r). Suppose there is a risk-free asset whose return is given by ¯r = 0.04. Suppose there is a single risky asset P that has an expected re..
Explain by using supply and demand curves : Consider the market for taxi service in a city. Explain, by using supply and demand curves, how each of the following actions will affect the market. (Consider each case separately) A. Bus drivers go on strike. B. Bus fares increase after a strike by..
Find the weights on each of these stocks : Suppose stocks A, B and C have the same expected return and standard deviation. The correlations of returns are given as follows Corr(A, B) = 0.7, Corr(B, C) = −0.3 and Corr(A, C) = 0.2. Find the weights on each of these stocks (they need to add up t..
What is the investors risk aversion coefficient : Suppose an investor’s utility function is given by U(r) = 1/3 E(r) − 1/2 A · V ar(r). Suppose there is a risk-free asset whose return is given by ¯r = 0.03. Suppose there is a single risky asset P that has an expected return of 0.08 and standard devi..
Prepare operating activity section of statement for rattigan : Rattigan Company's income statement contained the condensed information. Prepare the operating activities section of the statement of cash flows using the indirect method.
Compute mrs yanks federal income tax : Mrs. Cora Yank (age 42) is divorced and has full custody of her 10-year-old son, William. From the following information, compute Mrs. Yank's federal income tax (including any AMT) and the amount due with her Form 1040 or the refund she should receiv..
The role of the automatic transfer system : Explain The Automatic Transfer System in Details Including the following : The Role of the Automatic Transfer System,Example System Description,Modes of Operation
Compute mr and mrs bensons federal income tax : On the basis of the following information, compute Mr. and Mrs. Benson's federal income tax (including any AMT), self-employment tax, and Medicare contribution tax and the amount due with their Form 1040 or the refund they should receive.
What are the advantages of parallel circuits : What are the Advantages of Parallel Circuits connection over Serie Circuit Connection ? Why Parallel Connection is Mostly Preferred over Series Connection?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd