Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help getting the right answer, thanks! ork Saved Help Save & Exit Submit Check my work Exercise 4-18A Calculate financing cash flows (L04-7)

image text in transcribed

image text in transcribed

I need help getting the right answer, thanks!

ork Saved Help Save & Exit Submit Check my work 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, $2,150. 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, $65,000. e. Cash used for payment of employee salaries, $24,500. f. Cash used for payment of office rent, $12,500. g. Cash 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. i. Cash used to pay office utilities, $4,800. j. Purchase of company vehicle, paying $10,500 cash. Required: Calculate cash flows from financing activities. (List cash outflows as negative amounts.) $ 1 Cash used for purchase of office supplies. Cash provided from consulting to customers. Cash used for payment of employee salaries. Cash used for payment of office rent. Cash used to pay office utilities (2.150) 48,100 (24,500) (12,500) (4.800) Cash flows from financing activities $ 4,150

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

Auditing And EDP Objective Questions And Explanations

Authors: Irvin N Gleim, William A. Hillison

4th Edition

0917537432, 978-0917537431

More Books

Students also viewed these Accounting questions

Question

Find two unit vectors orthogonal to both (3, 2, 1) and (-1, 1, 0).

Answered: 1 week ago