The income statement of Feather Ltd for the year ended 31 December 2020, reported the following condensed information:
The statement of financial position contained the following comparative data at December 31:
There are no depreciable assets. Accounts payable pertains to operating expenses.
Required: Prepare the operating activities section of the statement of cash flows using the direct method.

Question

The income statement of Feather Ltd for the year ended 31 December 2020, reported the following condensed information:
  The statement of financial position contained the following comparative data at December 31:
  There are no depreciable assets. Accounts payable pertains to operating expenses.
Required: Prepare the operating activities section of the statement of cash flows using the direct method.

Quizplus · Accepted Answer

The Answer of The income statement of Feather Ltd for the year ended 31 December 2020, reported the following condensed information:
  The statement of financial position contained the following comparative data at December 31:
  There are no depreciable assets. Accounts payable pertains to operating expenses.
Required: Prepare the operating activities section of the statement of cash flows using the direct method.

The Income Statement of Feather Ltd for the Year Ended