FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals
Required:
Calculate cash flows from financing activities. (List cash outflows as negative amounts.)
a. Cash used for purchase of office supplies, $2,300.
b. Cash provided from consulting to customers, $49,600.
c. Cash used for purchase of mining equipment, $81,000
d. Cash provided from long-term borrowing, $68,000.
e. Cash used for payment of employee salaries, $24,800.00
f. Cash used for payment of office rent, $12,800.
g. Cash provided from sale of equipment purchased in c. above, $23,300.
h. Cash used to repay a portion of the long-term borrowing in d. above, $44,000
Cash used to pay office utilities, $5,100.
J.Purchase of company vehicle, paying $10,800 cash.
Cash flows from financing activities
Amount
Included in
Financing Cash
Flows
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Transcribed Image Text:Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals Required: Calculate cash flows from financing activities. (List cash outflows as negative amounts.) a. Cash used for purchase of office supplies, $2,300. b. Cash provided from consulting to customers, $49,600. c. Cash used for purchase of mining equipment, $81,000 d. Cash provided from long-term borrowing, $68,000. e. Cash used for payment of employee salaries, $24,800.00 f. Cash used for payment of office rent, $12,800. g. Cash provided from sale of equipment purchased in c. above, $23,300. h. Cash used to repay a portion of the long-term borrowing in d. above, $44,000 Cash used to pay office utilities, $5,100. J.Purchase of company vehicle, paying $10,800 cash. Cash flows from financing activities Amount Included in Financing Cash Flows
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