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Prepare a statement of cash flows for Dynasty Travel Service

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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.

Reference no: EM132874749

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