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 owner ... 60,000 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

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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 owner ... 60,000

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.


Related Book For answer-question

Financial Accounting

12th Edition

Authors: Warren, Reeve, Duchac

ISBN: 978-1133952428