A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below. Cash receipts: Cash received from customers $88,300 Cash received from sale of stock 24,300 Cash payments: Cash paid for expenses $26,100 Cash paid for land 45,800 Cash paid for supplies 330 Dividends 4,300 The cash balance as of January 1 $40,800 Prepare a statement of cash flows for Linda's Design Services for the year ended December 31. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Linda's Design Services Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities: Cash received from customers 88,300 Cash payments for expenses and supplies 26,100 X Net cash flows from operating activities 26,100 x

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below.
Cash receipts:
Cash received from customers
$88,300
Cash received from sale of stock
24,300
Cash payments:
Cash paid for expenses
$26,100
Cash paid for land
45,800
Cash paid for supplies
330
Dividends
4,300
The cash balance as of January 1
$40,800
Prepare a statement of cash flows for Linda's Design Services for the year ended December 31. Use the minus sign to indicate cash out flows, a decrease in cash or cash
payments.
Linda's Design Services
Statement of Cash Flows
For the Year Ended December 31
Cash flows from operating activities:
Cash received from customers
88,300
Cash payments for expenses and supplies
26,100 X
Net cash flows from operating activities
26,100
Transcribed Image Text:A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below. Cash receipts: Cash received from customers $88,300 Cash received from sale of stock 24,300 Cash payments: Cash paid for expenses $26,100 Cash paid for land 45,800 Cash paid for supplies 330 Dividends 4,300 The cash balance as of January 1 $40,800 Prepare a statement of cash flows for Linda's Design Services for the year ended December 31. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Linda's Design Services Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities: Cash received from customers 88,300 Cash payments for expenses and supplies 26,100 X Net cash flows from operating activities 26,100
Cash flows used for investing activities:
Cash flows from financing activities:
Net cash flows from financing activities
Cash balance, January 1
40,800
Cash balance, December 31
%24
Transcribed Image Text:Cash flows used for investing activities: Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 40,800 Cash balance, December 31 %24
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