The income statement of Zamora Inc. reported the following condensed information. Zamora??s balance sheet contained these comparative

Question:

The income statement of Zamora Inc. reported the following condensed information.

Zamora??s balance sheet contained these comparative data at December 31.

Zamora has no depreciable assets. Accounts payable pertain to operating expenses.InstructionsPrepare the operating activities section of the statement of cash flows using the indirect method.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... 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...