Help me with this question, please! Below are cash transactions for Goldman Inco

Question

Help me with this question, please! 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, $1,600. b. Cash provided from consulting to customers, $42,600 c. Cash used for purchase of mining equipment, $67,000 d. Cash provided from long-term borrowing, $54,000 e. Cash used for payment of employee salaries, $23,400 f. Cash used for payment of office rent, $11,400 g. Cash provided from sale of equipment purchased in c. above, $21,900. h. Cash used to repay a portion of the long-term borrowing in d. above, $37,000. i. Cash used to pay office utilities, $3,700 j Purchase of company vehicle, paying $9,400 cash and borrowing $14,400 Required: Calculate cash flows from operating activities. (List cash outflows as negative amounts) Cash flows from operating activities

Explanation / Answer

Cash provided from consulting to customers 42600 LesS:cash outflows Purchase of office supplies (1600) cash used for payment of employee salaries (23400) cash used for payment of office rent (11400) cash used to pay office utilities (3700) cash flow from operating activity 2500

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