PE 1-7A Statement of cash flows
A summary of cash flows for Dynasty Travel Service for the year ended June 30, 2012, is shown below.
|
Cash receipts: |
|
|
Cash received from customers |
$920,000 |
|
Cash received from additional investment of |
60,000 |
|
owner |
|
|
Cash payments: |
|
|
Cash paid for operating expenses |
710,000 |
|
Cash paid for land |
208,000 |
|
Cash paid to owner for personal use |
36,000 |
The cash balance as of July 1, 2011, was $130,000.
Prepare a statement of cash flows for Dynasty Travel Service for the year ended June 30, 2012.