PE 1-7B Statement of cash flows
A summary of cash flows for Escape Travel Service for the year ended November 30,
2012, is shown below.
| Cash receipts: | |
| Cash received from customers | $875,000 |
| Cash received from additional investment of owner | 45,000 |
| Cash payments: | |
| Cash paid for operating expenses | 912,500 |
| Cash paid for land | 67,500 |
| Cash paid to owner for personal use | 25,000 |
The cash balance as of December 1, 2011, was $141,750.
Prepare a statement of cash flows for Escape Travel Service for the year ended November 30, 2012.
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