Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following are the transaction of TAR Inc., which provides consulting services related to mining of precious metals. Transaction Amount of Transaction A Cash used

image text in transcribed

Following are the transaction of TAR Inc., which provides consulting services related to mining of precious metals. Transaction Amount of Transaction A Cash used for payment of employee salaries $525,000 B Cash provided from sale of equipment that had been used in operations 32,000 C Cash used for purchase of office supplies 2,400 D Cash used for purchase of office equipment 100,000 E Cash used to pay office utilities 17,500 F Cash used for payment of office rent 32,000 G Cash provided from consulting customers 754,000 H Cash provided from long-term borrowing 300,000 " Cash used to pay the bank for a loan due this month 50,000 J Purchase of company vehicle paying 2/10 cash and borrowing the rest. 40,000 16. $ Refer to transaction J, how much should be included in cash used from investing activities? 17. $ 18. $ 19. $ 20. $ Determine the net cash flows from operating activities (include "if needed) Determine the net cash flows from investing activities (include "if needed) Determine the net cash flows from financing activities (include if needed) How much did cash change over the year?

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

Recommended Textbook for

Intermediate Accounting

Authors: David Spiceland

11th Edition

1264134525, 9781264134526

Students also viewed these Accounting questions

Question

How could an organization's culture be used as a control mechanism?

Answered: 1 week ago