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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 operating activities. (List
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, $1,650 b. Cash provided from consulting to customers, $43,100. c. Cash used for purchase of mining equipment, $68,000. d. Cash provided from long-term borrowing, $55,000. e. Cash used for payment of employee salaries, $23,500. f. Cash used for payment of office rent, $11,500. g. Cash provided from sale of equipment purchased in c. above, $22,000. h. Cash used to repay a portion of the long-term borrowing in above, $37,500. L Cash used to pay office utilities, $3,800. j. Purchase of company vehicle, paying $9,500 cash. Cash flows from operating activities Amount Included in Operating Cash Flows
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