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Prepare a statement of cash flows for Escape Travel Service

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Reference no: EM132874762

Problem - Statement of cash flows - A summary of cash flows for Escape Travel Service for the year ended November 30, 2012, is shown below.

Cash receipts:

Cash received from customers $875,000

Cash received from additional investment of owner 45,000

Cash payments:

Cash paid for operating expenses 912,500

Cash paid for land 67,500

Cash paid to owner for personal use 25,000

The cash balance as of December 1, 2011, was $141,750.

Required - Prepare a statement of cash flows for Escape Travel Service for the year ended No- vember 30, 2012.

Reference no: EM132874762

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