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A summary of cash flows for Herat Travel Service f

A summary of cash flows for Herat Travel Service for the year ended June 30, 2008, is shown below.Cash receipts:Cash received from customers . . . . . . . . . . . . . . . . . . . . . . . . . $350,000Cash received from additional investment of owner . . . . . . . . 20,000Cash payments:Cash paid for operating expenses . . . . . . . . . . . . . . . . . . . . . . . 270,000Cash paid for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,000Cash paid to owner for personal use . . . . . . . . . . . . . . . . . . . . . 12,000The cash balance as of July 1, 2007, was $42,800.Prepare a statement of cash flows for Herat Travel Service for the year ended June 30, 2008.View Solution: A summary of cash flows for Herat Travel Service for

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