In: Accounting
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, $1,550.
b. Cash provided from consulting to customers, $42,100.
c. Cash used for purchase of mining equipment, $66,000.
d. Cash provided from long-term borrowing, $53,000.
e. Cash used for payment of employee salaries, $23,300.
f. Cash used for payment of office rent, $11,300.
g. Cash provided from sale of equipment purchased in c.
above, $21,800.
h. Cash used to repay a portion of the long-term borrowing in
d. above, $36,500.
i. Cash used to pay office utilities, $3,600.
j. Purchase of company vehicle, paying $9,300 cash and borrowing
$14,300.
Required:
Calculate cash flows from financing activities. (List cash outflows as negative amounts.)
d. |
Cash provided from long-term borrowing |
$ 53,000.00 |
h. |
Cash used to repay a portion of the long-term borrowing |
$ (36,500.00) |
Total |
Cash Flows from Financing Activities |
$ 16,500.00 |
Serial no. of items not considered |
Reason |
a. |
Part of Operating Activities section |
b. |
Part of Operating Activities section |
c. |
Part of Investing Activities section |
e. |
Part of Operating Activities section |
f. |
Part of Operating Activities section |
g. |
Part of Investing Activities section |
i. |
Part of Operating Activities section |
j. |
Part of Investing Activities section |