The following financial data are from 3343 Company: 2019 2018 A/R $1,200 $1,800 Unearned revenue 500 150
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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 | 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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