Cash receipts: Cash received from customers S880,000 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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Statement of cash flows

A summary of cash flows for paradise Travel Services for the year ended May 31, 2018.

The cash balance of June 1, 2017 was $50,000.

Prepare a statement of cash flows for paradise Travel Service for the year ended May 31, 2018.

Cash receipts:
Cash received from customers
S880,000
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
Transcribed Image Text:Cash receipts: Cash received from customers S880,000 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
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