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1. 2. 13. Reven Corporation prepares its statement of cash flows using the direct method. Last year, Reven reported income Tax Expense of $25,000., At
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13. Reven Corporation prepares its statement of cash flows using the direct method. Last year, Reven reported income Tax Expense of $25,000., At the beginning of la the Income Taxes Payable account. At the end of last yea On its statement of cash flows for last year, what an Expense adjusted to a cash basis (i.e., income taxes paid)? st year, Reven had a $5,000 balance in r, Reven had a $9,000 balance in the account mount should Reven have shown for its income Tax a. $29,000 b. $21,000 c. $25,000 d. $4,000 er Corporation had net sales of $402000 for the just completed year. Shown below are the beginning and ending balances of various Wister accounts Ending Beginning Cash ..uuu105,000132,000 Inventory...uun472000 536,000 Accounts payable.. Reeivablem$108.000 $142.000 $74,00091,000 Retained camingsa104,000$292,000 Wister prepares its statement of cash flows using the direct method. On its statement of cash flows, what amount should Wister show for its net sales adjusted to a cash basis (i.e., cash received from sales)? a. $488,000 b. $436,000 c. $462,000 d. $445,000 2.
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