Question: Uhura Health Spas began 2014 with cash of 104 000 During
Uhura Health Spas began 2014 with cash of $104,000. During the year, Uhura earned service revenue of $600,000 and collected $590,000 from customers. Expenses for the year totalled $420,000, of which Uhura paid $410,000 in cash to suppliers and employees. Uhura also paid $140,000 to purchase equipment and paid a cash dividend of $50,000 to its shareholders during 2014. Prepare the company’s cash flow statement for the year ended December 31, 2014. Format cash flows from operating activities by the direct method.
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