Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A summary of cash flows for Hurley Travel Service for the year ended October 31, 2046 is shown below. Cash receipts: Cash received from customers

image text in transcribed
image text in transcribed
A summary of cash flows for Hurley Travel Service for the year ended October 31, 2046 is shown below. Cash receipts: Cash received from customers $248,500 Cash received from insuring common stock 17,400 Cash payments: Cash paid for operating expenses 206,320 Cash paid for land 43,500 Cash paid for dividends 3,500 The cash balance as of November 1, 2045, was $104,140. Prepare a statement of cash flows for Hurley Travel Service for the year ended October 31, 2016. Use the minus sign to Indiente cash outlaws, cash payments and decreases in cash Hurley Travel Service Statement of Cash Flows For the Year Ended October 31, 2016 Cash flows from (used for) operating activities Cash received from customers 24.5HD 206,320 X Cash paid for operating expenses Net cash flows from operating activities Cash flows from (used for) investing activities: Cash paid for purchase of land 3.500 X Cash flows from (used for) financing activities Huy HAVE GIVIC Statement of Cash Flows For the Year Ended October 31, 2046 Cash flows from (used for) operating activities: Cash received from customers 248,580 Cash paid for operating expenses 206,320 x Net cash flows from operating activities Cash flows from (used for) investing activities: Cash paid for purchase of land 43,500 X Cash flows from (used for) financing activities: Cash received from issuing common stock 17,400 Cash paid for dividends 3,500 X Net cash flows from financing activities Net increase in cash $ 104,140 Cash balance, November 1, 2015 $ Cash balance, October 31, 2016

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quality Audit Standard Requirements

Authors: Gerardus Blokdyk

1st Edition

0655170898, 978-0655170891

More Books

Students also viewed these Accounting questions

Question

My opinions/suggestions are valued.

Answered: 1 week ago