The following selected account balances were taken from XYZ Company\'s general l

Question

The following selected account balances were taken from XYZ Company's general ledger at January 1, 2018 and December 31, 2018: anuar December 18 Inventory Equipment Investments Land Mortgage payable Retained earnings 31,000 123,000 42,000 91,000 111,000 32,000 18,000 144,000 37,000 40,000 60,000 37,000 Additional information for 2018 appears below: 1. XYZ Company sold land costing $60,000 and recorded a $4,000 loss on the sale 2. XYZ Company purchased equipment for $21,000 cash 3. XYZ Company purchased investments for $60,000 cash and sold investments and reported a $31,000 gain on the sale Calculate XYZ Company's net cash flow from investing activities for 2018. If your answer is negative, place a minus sign in front of your answer with no spaces in between (e.g.,-1234)

Explanation / Answer

Calculate XYZ Company's net cash flow from investing activities for 2018. Cash flow from investing activities Land sold (60000-4000) 56000 Purchase equipment (21000) Purchase investment (60000) Sale of investment (42000+60000-37000)+31000 96000 Land purchase (91000-60000-40000) (9000) Net cash flow from investing activities 62000

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