A summary of cash flows for Paradise Travel Service for the year ended May 31, 20Y6, follows: Cash receipts: Cash received from customers...................................$880,000 Cash received from issuing common stock.................40,000 Cash payments: Cash paid for operating expenses................................758,000 Cash paid for land...........................................................150,000 Cash paid as dividends...................................................10,000 The cash balance as of June 1, 20Y5, was $50,000. Prepare a statement of cash flows
Chapter 1, Brief Exercises #7
A summary of cash flows for Paradise Travel Service for the year ended May 31, 20Y6, follows:
Cash receipts:
Cash received from customers...................................$880,000
Cash received from issuing common stock.................40,000
Cash payments:
Cash paid for operating expenses................................758,000
Cash paid for land...........................................................150,000
Cash paid as dividends...................................................10,000
The cash balance as of June 1, 20Y5, was $50,000.
Prepare a statement of cash flows for Paradise Travel Service for the year ended May 31, 20Y6.
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