PE 1-7A Statement of cash flows
A summary of cash flows for Dynasty Travel Service for the year ended June 30, 2012, is shown below.
| Cash receipts: | |
| Cash received from customers | $920,000 |
| Cash received from additional investment of | 60,000 |
| owner | |
| Cash payments: | |
| Cash paid for operating expenses | 710,000 |
| Cash paid for land | 208,000 |
| Cash paid to owner for personal use | 36,000 |
The cash balance as of July 1, 2011, was $130,000.
Prepare a statement of cash flows for Dynasty Travel Service for the year ended June 30, 2012.
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