Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 4-16B Calculate operating cash flows (LO4-7) Below are cash transactions for a company, which provides consulting services related to mining of precious metals. a.

image text in transcribed
Exercise 4-16B Calculate operating cash flows (LO4-7) Below are cash transactions for a company, which provides consulting services related to mining of precious metals. a. Cash used for purchase of office supplies, $2,150 b. Cash provided from consulting to customers, $48,100. c Cash used for purchase of mining equipment, $78,000 d. Cash provided from long-term borrowing, 565,000 e Cash used for payment of employee salaries $24.500 t. Cash used for payment of office rent, $12,500, gCash provided from sale of equipment purchased in C above $23,000. h. Cash used to repay a portion of the long-term borrowing in d. above 42,500. Cash used to pay office utilities, $4.800. J. Purchase of company vehicle paying $10,500 cash Required: Calculate cash flows from operating activities (List cash outflows os negative amounts.) Cashflows 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

Public Sector Audit

Authors: Carolyn J. Cordery, David C. Hay

1st Edition

0367650622, 9780367650629

More Books

Students also viewed these Accounting questions