Data for Zumbrunn Company are presented in P17 5A Zumbrunns balance sheet contained the comparative data at December 31, shown below Instructions Prepare the operating activities section of the statement of cash flows using the direct method 2017 2016 Accounts receivable $65,000 Accounts payable In...

ZUMDRUNN COMPANY Income Statement For The Year Ended December 31 2017 Service Revenu ...

Data for Zumbrunn Company are presented in P17-5A. Zumbrunns balance sheet contained the comparative data at December

Question:

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

Zumbrunn’s balance sheet contained the comparative data at December 31, shown below.

2017 2016 Accounts receivable $65,000 Accounts payable Income taxes payable $75,000 46,000 11,000 28,000 7,000

Instructions

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

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

Fantastic news! We've Found the answer you've been seeking!