Question
The following financial data are from 3343 Company: 2019 2018 A/R $1,200 $1,800 Unearned revenue 500 150 Prepaid wages expense 2,700 2,000 Wages payable 1,100
The following financial data are from 3343 Company:
|
| 2019 | 2018 |
| A/R | $1,200 | $1,800 |
| Unearned revenue | 500 | 150 |
| Prepaid wages expense | 2,700 | 2,000 |
| Wages payable | 1,100 | 900 |
| A/P | 800 | 300 |
|
|
|
|
| Inventory | 2,000 | 1,200 |
| Patents | 1,800 | 2,100 |
|
|
|
|
CFO (Direct) for 2019
| Cash received from customers | $10,000 |
| Cash Disbursements For: |
|
| Purchases of inventory $8,250 |
|
| Wages expense 1,400 |
|
| Total disbursements | 9,650 |
| CFO | $ 350 |
Required:
- Calculate (i.) Sales revenue , and (ii.) CGS
- Prepare the income statement for 2019.
- Prepare CFO using the INDIRECT method.
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Exploring Public Relations Global Strategic Communication
Authors: Ralph Tench, Liz Yeomans
4th Edition
1292112182, 9781292112183
