EX 1-24 Statement of cash flows
A summary of cash flows for Absolute Consulting Group for the year ended July 31, 2012, is shown below.
| Cash receipts: | |
| Cash received from customers | $187,500 |
| Cash received from additional investment of owner | 40,000 |
| Cash payments: | |
| Cash paid for operating expenses | 127,350 |
| Cash paid for land | 30,000 |
| Cash paid to owner for personal use | 5,000 |
The cash balance as of August 1, 2011, was $27,100.
Prepare a statement of cash flows for Absolute Consulting Group for the year ended July 31, 2012.
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