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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, $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
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