Question
[Extracted from the financials of Revere Corporation] Sales for the year are $36,000. Cash paid for operating expenses for the year are $23,000. Ending Beginning
[Extracted from the financials of Revere Corporation]
Sales for the year are $36,000. Cash paid for operating expenses for the year are $23,000.
|
| Ending | Beginning |
| A/R | $6,000 | $4,400 |
| Prepaid expense | 1,640 | 2,480 |
| Unearned revenue | 250 | 800 |
|
|
|
|
Required:
Determine the following: (a)CFO using the DRIECT method (4 marks)
,(b) the I/S (3 marks) and, (c) CFO using the INDIRECT method (3 marks)
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College Accounting Chapters 1-12 With Study Guide And Working Papers
Authors: Jeffrey Slater
13th Edition
0133866300, 9780133866308
