Required Refer to the information in Problem 17-9B. Prepare a statement of cash flows for 2014 using

Question:

Required
Refer to the information in Problem 17-9B. Prepare a statement of cash flows for 2014 using the direct method to report cash inflows and outflows from operating activities.
Other information:

a. All accounts payable balances result from other expenses.
b. All consulting revenue is done on credit.
c. All credits to accounts receivable are receipts from customers.
d. All debits to accounts payable result from payments for otherexpenses.

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... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...