EX 1-24 Statement of cash flows
A summary of cash flows for Absolute Consulting Group for the year ended July 31, 2012, is shown below.
|
Cash receipts: |
|
|
Cash received from customers |
$187,500 |
|
Cash received from additional investment of owner |
40,000 |
|
Cash payments: |
|
|
Cash paid for operating expenses |
127,350 |
|
Cash paid for land |
30,000 |
|
Cash paid to owner for personal use |
5,000 |
The cash balance as of August 1, 2011, was $27,100.
Prepare a statement of cash flows for Absolute Consulting Group for the year ended July 31, 2012.