Revenue, expenses and cash flow from operations Peakhurst Ltd provides one-day training programs in financial management. It charges $7000 per day. The following events occurred for the company in the month of June 2021.

a Received $62 000 from accounts receivable for sales in previous months.

b Paid two months’ rent of $48 000 covering 1 June 2021 to 31 July 2021.

c Received orders for 80 days’ training during the month. Delivered 60 days of the training during the month and received payment for 30 of these days.

d Signed a contract to design a special program for XYZ Ltd at a price of $70 000. Design will begin in July.

Received a $6000 deposit.

e Paid $600 000 for new equipment on 1 June. The equipment has a life of 10 years.

f Paid wages during the period of $60 000 with accrued wages of $10 000 owing at the end of the month.

g Declared and paid a dividend of $50 000.

Required:

1 Determine total revenue for the month of June 2021.

2 List all expenses for the month of June 2021 (including dollar amounts).

3 Determine cash flow from operations for June 2021.