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 mapQuestion 6 of 8 Total6 of 8 Prev

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Description: 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 purchas

Cash flow statements are the statements that determine the inflow and outflow of cash from three…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

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 cash flows from investing activities. (List cash outflows as negative amounts.)

Next Visit question map

Question 6 of 8 Total6 of 8

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