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A summary of cash flows for Linda's Design Services for the year ended June 30th is shown below
A summary of cash flows for Linda's Design Services for the year ended June 30th is shown below.
Cash receipts:
Cash received from customers $83 990
Cash received from additional investment by owner 25 000
Cash payments:
Cash paid for expenses $27 000
Cash paid for land 47 000
Cash paid for supplies 410
Drawing 5 000
The cash balance as of July 1. $40 600
From the information above, answer the following questions in relation to the cash flows of Linda's Design Services for the year ended June 30. (Adapted from: C.S., Warren; J.M. Reeve; J., Duchac, "Accounting", 26th Ed., 2016)
- Cash flows from operating activities
- Cash flows from investing activities
- Cash flows from financing activities
- Net increase in cash during year
- What is the ending cash balance of Linda's Design Services at the end of the period?
Important: Where you need to fill the blanks, write your answers in this format XX 000. (Formats like XX000 or XX,000 are not recognised as the right answers by the system.)
ANSWER:
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