Financial & Managerial Accounting
14th Edition
ISBN: 9781337119207
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 1.24EX
Statement of
A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2018, follows:
| Cash receipts: | |
| Cash received from customers | $637,500 |
| Cash received from issuing common stock | 62,500 |
| Cash payments: | |
| Cash paid for operating expenses | 475,000 |
| Cash paid for land | 90,000 |
| Cash paid for dividends | 17,500 |
The cash balance as of June 1, 2017, was $58,000.
Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2018.
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