Data for Zumbrunn Company are presented in P17.5A. P17.5 Zumbrunn Companys income statement contained the following condensed

Question:

Data for Zumbrunn Company are presented in P17.5A.

P17.5

Zumbrunn Company€™s income statement contained the following condensed information.

Zumbrunn Company Income Statement For the Year Ended December 31, 2020 $970,000 Service revenue $624,000 Operating expen

Zumbrunn€™s balance sheets contained the comparative data at December 31, shown below.

2020 2019 Accounts receivable Accounts payable Income taxes payable $75,000 46,000 $65,000 28,000 7,000 11,000

Accounts payable pertain to operating expenses.


Instructions
Prepare the operating activities section of the statement of cash flows using the direct method.

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Related Book For  book-img-for-question

Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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