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Accounting (Text Only)
Statement of cash flows
A summary of cash flows for Sentinel Travel Service for the year ended August 31, 2016, follows:
| Cash receipts: Cash received from customers |
$734,000 |
| Cash received from additional investment of owner | 36,000 |
| Cash payments: Cash paid for operating expenses |
745,600 |
| Cash paid for land | 50,000 |
| Cash paid to owner for personal use | 18,000 |
The cash balance as of September 1, 2015, was $89,000.
Prepare a statement of cash flows for Sentinel Travel Service for the year ended August 31, 2016.
Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.
To prepare: Statement of cash flows of ST Service for the year ended August 31, 2016
Prepare statement of cash flows of ST Service for the year ended August 31, 2016.
| ST Service | ||
| Statement of Cash Flows | ||
| For the Year Ended August 31, 2016 | ||
| Cash flows from operating activities: | Â | Â |
| Â Â Â Â Â Cash receipts from customers | $734,000 | Â |
| Â Â Â Â Â Deduct cash payments for operating expenses | (745,600) | Â |
| Â Â Â Â Â Â Â Â Â Net cash flows used for operating activities | Â | $(11,600) |
| Cash flows from (used for) investing activities: | Â | Â ... |
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