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In: Accounting

The following information is available for XYZ Company: January 1, 2012 December 31, 2012 ASSETS Cash...

The following information is available for XYZ Company:

                        January 1, 2012       December 31, 2012

ASSETS
  Cash                        $31,000               $20,000
  Accounts receivable          74,000                80,000
  Supplies                     10,000                 7,000
  Land                         50,000                40,000
  Equipment                    20,000                36,000
  Accumulated depreciation      6,000                 8,000
  Patent                            0                 6,000

LIABILITIES + EQUITY
  Accounts payable            $15,000               $19,000
  Short-term notes payable     22,000                13,000
  Salaries payable             17,000                 1,000
  Common stock                 40,000                50,000
  Retained earnings            85,000                98,000

During 2012, XYZ Company paid dividends of $12,000, recorded depreciation expense
of $2,000, and sold land costing $10,000 for $17,000 cash.

Using the indirect method, calculate the net cash flow from operating activities
for 2012.

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Expert Solution

ekkarill92 answered 1 year ago
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