*Problem 13-5A Zumbrunn Company\'s income statement contained the condensed info

Question

*Problem 13-5A Zumbrunn Company's income statement contained the condensed information below ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2015 $970,960 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of equipment Income before income taxes Income tax expense Net income $623,270 60,910 16,900 01,080 269,880 39,360 $230,520 Zumbrunn's balance sheet contained the comparative data at December 31, shown below Accounts receivable Accounts payable Income taxes payable 2015 $75,980 41,540 11,020 2014 $60,160 27,930 7,780 Accounts payable pertain to operating expenses.

Explanation / Answer

Answer:

ZUMBRUNN COMPANY Statement of cash flow For the year Ended December 31,2015 Particulars Amount Cash flow from operating activities: Net income 230520 Adjustment to be reconcile net income to net cash provided by operating activities: Depreciation expense 60910 Loss on disposal of equipment 16900 Increase in accounts receivable -15820 Increase in accounts payable 13610 Increase in income taxes payables 3240 Net cash flow from operating activities 309360

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