Financial Accounting - Access
4th Edition
ISBN: 9781259958533
Author: SPICELAND
Publisher: MCG
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Chapter 4, Problem 4.16E
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, $2,400.
b. Cash provided from consulting to customers, $50,600.
c. Cash used for purchase of mining equipment, $83,000.
d. Cash provided from long-term borrowing, $70,000.
e. Cash used for payment of employee salaries, $25,000.
f. Cash used for payment of office rent, $13,000.
g. Cash provided from sale of equipment purchased in c. above, $23,500.
h. Cash used to repay a portion of the long-term borrowing in d. above, $45,000.
i. Cash used to pay office utilities, $5,300.
j. Purchase of company vehicle, paving $11,000 cash and borrowing $16,000.
Required:
Calculate
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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 operating activities. (List cash outflows as negative amounts.)
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Question 5 of 8 Total5 of 8
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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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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, $2,400. b. Cash provided from consulting to customers, $50,600. c. Cash used for purchase of mining equipment, $83,000. d. Cash provided from long-term borrowing, $70,000. e. Cash used for payment of employee salaries, $25,000. f. Cash used for payment of office rent, $13,000. g. Cash provided from sale of equipment purchased in c. above, $23,500. h. Cash used to repay a portion of the long-term borrowing in d. above, $45,000. i. Cash used to pay office utilities, $5,300. j. Purchase of company vehicle, paying $11,000 cash. Required: Calculate cash flows from operating activities.
Chapter 4 Solutions
Financial Accounting - Access
Ch. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - What is meant by the fraud triangle, and what can...Ch. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - What is meant by separation of duties?Ch. 4 - Prob. 10RQ
Ch. 4 - Prob. 11RQCh. 4 - Prob. 12RQCh. 4 - Prob. 13RQCh. 4 - Prob. 14RQCh. 4 - Prob. 15RQCh. 4 - Prob. 16RQCh. 4 - Prob. 17RQCh. 4 - Prob. 18RQCh. 4 - Prob. 19RQCh. 4 - Prob. 20RQCh. 4 - Prob. 21RQCh. 4 - 22.What are two primary reasons that the companys...Ch. 4 - Prob. 23RQCh. 4 - Prob. 24RQCh. 4 - Prob. 25RQCh. 4 - Describe how management maintains control over...Ch. 4 - Prob. 27RQCh. 4 - Describe the operating, investing, and financing...Ch. 4 - Why is an analysis of the companys cash balance...Ch. 4 - We compared Regal Entertainment and Cinemark at...Ch. 4 - Prob. 4.1BECh. 4 - Match each of the following components of internal...Ch. 4 - Prob. 4.3BECh. 4 - Prob. 4.4BECh. 4 - During the year, the following sales transactions...Ch. 4 - Prob. 4.6BECh. 4 - Prob. 4.7BECh. 4 - Prob. 4.8BECh. 4 - Prob. 4.9BECh. 4 - Prob. 4.10BECh. 4 - Prob. 4.11BECh. 4 - Prob. 4.12BECh. 4 - Prob. 4.13BECh. 4 - Prob. 4.14BECh. 4 - Prob. 4.15BECh. 4 - On January 12, Ferrell Incorporated obtains a...Ch. 4 - Prob. 4.17BECh. 4 - For each company, calculate the ratio of cash to...Ch. 4 - Prob. 4.1ECh. 4 - Prob. 4.2ECh. 4 - Prob. 4.3ECh. 4 - Prob. 4.4ECh. 4 - Below are several amounts reported at the end of...Ch. 4 - Prob. 4.6ECh. 4 - Prob. 4.7ECh. 4 - Prob. 4.8ECh. 4 - Prob. 4.9ECh. 4 - Prob. 4.10ECh. 4 - Prob. 4.11ECh. 4 - Prob. 4.12ECh. 4 - Prob. 4.13ECh. 4 - Prob. 4.14ECh. 4 - Prob. 4.15ECh. 4 - Below are cash transactions for Goldman...Ch. 4 - Prob. 4.17ECh. 4 - Prob. 4.18ECh. 4 - Consider the following information: 1.Service...Ch. 4 - Prob. 4.20ECh. 4 - Prob. 4.1APCh. 4 - Prob. 4.2APCh. 4 - Prob. 4.3APCh. 4 - Prob. 4.4APCh. 4 - Prob. 4.5APCh. 4 - Prob. 4.1BPCh. 4 - Prob. 4.2BPCh. 4 - Prob. 4.3BPCh. 4 - Prob. 4.4BPCh. 4 - Prob. 4.5BPCh. 4 - An examination of the cash activities during the...Ch. 4 - Prob. 4.2APFACh. 4 - Prob. 4.3APFACh. 4 - Prob. 4.4APCACh. 4 - Prob. 4.5APECh. 4 - Prob. 4.7APWC
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