Statement of cash flows A summary of cash flows for Paradise Travel Service for the year ended May 31, 2018, follows: 11eb79a5_979e_e67b_bf8a_1d5c515f3a3c_SM1598_00 The cash balance as of June 1, 2017, was $50,000. Prepare a statement of cash flows for Paradise Travel Service for the year ended May 31, 2018.

Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

Edition 14ISBN: 978-1305653535

Edition 14ISBN: 978-1305653535

Exercise 41

Statement of cash flows
A summary of cash flows for Paradise Travel Service for the year ended May 31, 2018, follows:

The cash balance as of June 1, 2017, was $50,000.
Prepare a statement of cash flows for Paradise Travel Service for the year ended May 31, 2018.

Explanation

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Cash flow statement: It shows flow of ca...