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Prepare a statement of cash flows for Absolute Consulting

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Problem - 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.

Required - Prepare a statement of cash flows for Absolute Consulting Group for the year ended July 31, 2012.

Reference no: EM132874826

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