Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 4-16A Calculate operating cash flows (L04-7) Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals. a.

image text in transcribed
image text in transcribed
Exercise 4-16A Calculate operating cash flows (L04-7) Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals. 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 1. Cash used for payment of office rent, $12,800. 9. 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, 1. Cash used to pay office utilities, $5,100. J. Purchase of company vehicle, paying $10,800 cash. Required: Calculate cash flows from operating activities. (List cash outflows as negative amoun Cash flows from operating activities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The AICPA Audit Committee Toolkit Private Companies

Authors: AICPA

2nd Edition

1940235464, 978-1940235462

More Books

Students also viewed these Accounting questions

Question

How is the NDAA used to shape defense policies indirectly?

Answered: 1 week ago