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A summary of cash flows for Paradise Travel Service for the year ended May 31, 20Y6, follows: Cash Flows Cash receipts: Cash received from customers
A summary of cash flows for Paradise Travel Service for the year ended May 31, 20Y6, follows:
Cash Flows | |
Cash receipts: | |
Cash received from customers | $1,486,000 |
Cash received from issuing common stock | 37,000 |
Cash payments: | |
Cash paid for operating expenses | $1,219,000 |
Cash paid for land | 178,000 |
Cash paid as dividends | 23,000 |
The cash balance as of June 1, 20Y5, was $246,000.
Labels | |
Cash flows from financing activities | |
Cash flows from investing activities | |
Cash flows from operating activities | |
Cash flows used for financing activities | |
Cash flows used for investing activities | |
Cash flows used for operating activities | |
For the Year Ended May 31, 20Y6 | |
May 31, 20Y6 | |
Amount Descriptions | |
Cash balance, June 1, 20Y5 | |
Cash balance, May 31, 20Y6 | |
Cash paid for dividends | |
Net cash flows from financing activities | |
Net cash flows from investing activities | |
Net cash flows from operating activities | |
Net cash flows used for financing activities | |
Net cash flows used for investing activities | |
Net cash flows used for operating activities | |
Net decrease in cash | |
Net increase in cash |
Required
Prepare a statement of cash flows for Paradise Travel Service for the year ended May 31, 20Y6. Refer to the cash receipts and cash payments information given in the instructions and to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) and the word Deduct will automatically appear if they are required. Enter amounts that represent cash outflows as negative numbers using a minus sign. |
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