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2 years ago

A summary of cash flows for Adventure Travel Service for the year ended April 30, 2019, follows:

Business

1 answer:

zalisa [80]2 years ago

4 0

Answer:

Adventure Travel Service

Statement of cash flows for the year ended April 30, 2019

Cash flow from Operating Activities

Cash receipts from customers $2,080,000

Cash payments for operating expenses ($1,706,000)

Net Cash from Operating Activities $374,000

Cash flow from Investing Activities

Purchase of land ($400,000)

Net Cash from Investing Activities ($400,000)

Cash flow from Financing Activities

Cash receipt from owner as investment $60,000

Drawings ($40,000)

Net Cash from Financing Activities $20,000

Movement in Cash and Cash Equivalents ($6,000)

Beginning Cash and Cash Equivalents $203,000

Ending Cash and Cash Equivalents $197,000

Explanation:

The Statement of Cash flows shows the results of cash from the following sources : Cashflow from Operating Activities, Cashflow from Investing Activities and Cashflow from Financing Activities.

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Answer:

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Bud exchanges land with an adjusted basis of $ 22,000 and a fair market value of $ 30,000 for another parcel of land with a fair

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3 years ago

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3 years ago

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grin007 [14]

Answer

Hi,

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Hope this helps!

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3 years ago

Read 2 more answers