PE 1-7B Statement of cash flows
A summary of cash flows for Escape Travel Service for the year ended November 30,
2012, is shown below.
|
Cash receipts: |
|
|
Cash received from customers |
$875,000 |
|
Cash received from additional investment of owner |
45,000 |
|
Cash payments: |
|
|
Cash paid for operating expenses |
912,500 |
|
Cash paid for land |
67,500 |
|
Cash paid to owner for personal use |
25,000 |
The cash balance as of December 1, 2011, was $141,750.
Prepare a statement of cash flows for Escape Travel Service for the year ended November 30, 2012.