Reference no: EM132874749
Problem - Statement of cash flows - 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.
Required - Prepare a statement of cash flows for Dynasty Travel Service for the year ended June 30, 2012.