Indirect method of preparing the operating portion

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The company purchased machinery and equipment in exchange for 10,000 shares of common stock. The stock was selling for $20 at the time.

1176_Prepare the operating portion.png

The short-term note receivable was received from a customer who had previously charged her purchase

Assume all other transactions involved cash

34. (8) Net cash flow from 2011 operations was:

35. (8) Net cash flow from 2011 investing activities was:

36. (8) Net cash flow from 2011 financing activities was:

37. The indirect method of preparing the operating portion of the statement of cash flows requires certain amounts to be added back and subtracted from net income to arrive at cash flow from operations. If all the individual amounts that should be added back to and subtracted from net income were summed into a single number, what would that total be?

My work is below:

From sales/customers = 200 sales - 50 account receivable - 50 note recieable = 100

Inventory/payments = 35 accounts payable - 80 cost of goods sold = -45

Expenses = -10 interest espense - 7 supply expense - 11 salary expense = -28

=27.

#35.

Purchase of asset = 100X20 + 200X20 + 900X20 = -24,000

Sold = 10000X20 = 200000

= 176,000. no idea if i did that correct or not.

#36.

Common stock 100X10,000 + APIC 100X10,000 = 200,000.

#37.

It is asking for a specific number. I know all you have to look at is the income statement. you have to start with the net income. If you actually use net income, the it would be 48 + depreciation expense of 30 + expenses(only cash) which i guess is 28 + loss on sale of equipment and investments which is 14 so the net cash for indirect method would be 120. butits not asking for net income to be factored into the answer so the answer would be 72. it is my guess for now, but im sure its incorrect.

Reference no: EM13339501

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