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Exercise 4-18A Calculate financing cash flows (LO4-7) Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals.
Exercise 4-18A Calculate financing cash flows (LO4-7) 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. f. Cash used for payment of office rent, $12,800. g. 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. i. Cash used to pay office utilities, $5,100. J. Purchase of company vehicle, paying $10,800 cash.
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