Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals. Cash used for purchase of office supplies, $2,150. Cash provided from consulting to customers, $48,100. Cash used for purchase of mining equipment, $78,000. Cash provided from long-term borrowing, $65,000. Cash used for payment of employee salaries, $24,500. Cash used for payment of office rent, $12,500. Cash provided from sale of equipment purchased in c. above, $23,000. Cash used to repay a portion of the long-term borrowing in d. above, $42,500. Cash used to pay office utilities, $4,800. Purchase of company vehicle, paying $10,500 cash. Required: Calculate cash flows from investing activities. (List cash outflows as negative amounts.) Next Visit question map Question 6 of 8 Total6 of 8 Prev
Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals. Cash used for purchase of office supplies, $2,150. Cash provided from consulting to customers, $48,100. Cash used for purchase of mining equipment, $78,000. Cash provided from long-term borrowing, $65,000. Cash used for payment of employee salaries, $24,500. Cash used for payment of office rent, $12,500. Cash provided from sale of equipment purchased in c. above, $23,000. Cash used to repay a portion of the long-term borrowing in d. above, $42,500. Cash used to pay office utilities, $4,800. Purchase of company vehicle, paying $10,500 cash. Required: Calculate cash flows from investing activities. (List cash outflows as negative amounts.) Next Visit question map Question 6 of 8 Total6 of 8 Prev
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals.
- Cash used for purchase of office supplies, $2,150.
- Cash provided from consulting to customers, $48,100.
- Cash used for purchase of mining equipment, $78,000.
- Cash provided from long-term borrowing, $65,000.
- Cash used for payment of employee salaries, $24,500.
- Cash used for payment of office rent, $12,500.
- Cash provided from sale of equipment purchased in c. above, $23,000.
- Cash used to repay a portion of the long-term borrowing in d. above, $42,500.
- Cash used to pay office utilities, $4,800.
- Purchase of company vehicle, paying $10,500 cash.
Required:
Calculate
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Question 6 of 8 Total6 of 8
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