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The following information is available for XYZ Company:

                     January 1, 2016       December 31, 2016

ASSETS
  Cash                     $31,000               $24,000
  Accounts receivable       74,000                80,000
  Supplies                  10,000                 7,000
  Land                      40,000                50,000
  Equipment                 20,000                20,000
  Accumulated depreciation   6,000                 8,000
  Patent                         0                 7,000

LIABILITIES + EQUITY
  Accounts payable         $15,000               $19,000
  Short-term notes payable  22,000                18,000
  Salaries payable           7,000                 1,000
  Common stock              40,000                50,000
  Retained earnings         85,000                92,000

During 2016, XYZ Company paid dividends of $12,000 and recorded depreciation expenseof $2,000.

Using the indirect method, calculate the net cash flow from operating activities for 2016. If your answer is negative, place a minus sign in front of your answer with nospaces in between (e.g., -1234). Do not use decimals in your answer.

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  • Category:- Accounting Basics
  • Reference No.:- M92562014
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