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Question #6 (10 marks) [Extracted from the financials of Revere Corporation) Sales for the year are $36,000. Cash paid for operating expenses for the year
Question #6 (10 marks) [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. A/R Prepaid expense Unearned revenue Ending $6,000 1,640 250 Beginning $4,400 2,480 800 Required: Determine the following: (a)CFO using the DRIECT method (4 marks) (b) the 1/S (3 marks) and, (c) CFO using the INDIRECT method
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