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Statement of cash flows A summary of cash flows for Parker Consulting Group for the year ended January 31, 20Y4, follows: Cash receipts: Cash received from customers $1,200,000 Cash received from issuing common stock 90,000 Cash payments: Cash paid for operating expenses 800,000 Cash paid for land 300,000 Cash paid for dividends 36,000 The cash balance as of February 1, 20Y3, was $66,000. Prepare a statement of cash flows for Parker Consulting Group for the year ended January 31, 20Y4.

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Financial And Managerial Accounting

15th Edition
WARREN + 1 other
Publisher: Cengage Learning,
ISBN: 9781337902663

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Chapter
Section
BuyFindarrow_forward

Financial And Managerial Accounting

15th Edition
WARREN + 1 other
Publisher: Cengage Learning,
ISBN: 9781337902663
Chapter 1, Problem 24E
Textbook Problem
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Statement of cash flows

A summary of cash flows for Parker Consulting Group for the year ended January 31, 20Y4, follows:

Cash receipts:  
Cash received from customers $1,200,000
Cash received from issuing common stock 90,000
Cash payments:  
Cash paid for operating expenses 800,000
Cash paid for land  
300,000  
Cash paid for dividends 36,000

The cash balance as of February 1, 20Y3, was $66,000.

Prepare a statement of cash flows for Parker Consulting Group for the year ended January 31, 20Y4.

To determine

Prepare the statement of cash flows for Company PCG for the year ended January 31, 20Y4.

Explanation of Solution

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.

Prepare the statement of cash flows for Company PCG for the year ended January 31, 20Y4:

Company PSG
Statement of Cash Flows
For the Year Ended January 31, 20Y4
ParticularsAmount ($)Amount ($)
Cash flows from (used for) operating activities:  
Cash received from customers$1,200,000&...

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Financial And Managerial Accounting
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