Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. below are cash transactions for goldman incorporat

Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of...

90.2K

Verified Solution

Question

Accounting

Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals. Required: Calculate cash flows from operating activities. (List cash outflows as negative amounts.) a. Cash used for purchase of office supplies, $2,200. b. Cash provided from consulting to customers, $48,600. c. Cash used for purchase of mining equipment, $79,000. d. Cash provided from long-term borrowing, $66,000. e. Cash used for payment of employee salaries, $24,600. f. Cash used for payment of office rent, $12,600. g. Cash provided from sale of equipment purchased in c. above, $23,100. h. Cash used to repay a portion of the long-term borrowing in d. above, $43,000. i. Cash used to pay office utilities, $4,900. j. Purchase of company vehicle, paying $10,600 cash. Cash flows from operating activities Amount Included in Operating Cash Flows
image
Below are cash transactions for Goldman incorporated, which provides consulting services related to mining of precious metals: Required: Calculate cash flows from operating activities. (List cash outflows as negative amounts.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students