Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Exercise 4-18A Calculate financing 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 4-18A Calculate financing 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, $2,400. b. Cash provided from consulting to customers, $50,600 c. Cash used for purchase of mining equipment, $83,000, d. Cash provided from long-term borrowing, $70,000 e. Cash used for payment of employee salaries, $25,000 1. Cash used for payment of office rent, $13.000 9. Cash provided from sale of equipment purchased in c above $23,500. h Cash used to repay a portion of the long-term borrowing in d above, $45,000 Cash used to pay office utilities $5,300 Purchase of company vehicle, paying $11,000 cash Required: Calculate cash flows from financing activities. (List cash outflows as negative amounts.) Cash flows from financing activities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions