Question
ABC Company had the following information: December 31, 2022 December 31, 2021 Note Payable $75,000 $55,000 Common Shares 120,000 80,000 Retained Earnings 30,000 26,000 ABC
ABC Company had the following information:
| December 31, 2022 | December 31, 2021 | |
| Note Payable | $75,000 | $55,000 |
| Common Shares | 120,000 | 80,000 |
| Retained Earnings | 30,000 | 26,000 |
ABC company reported net income of $16, 000 for 2022. ABC repaid 35,000 of notes payable during 2022.
Required: Compute the net cash flow from financing activities.
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Notes payable beginning balance as of December 31 2021 55000 Co...
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Advanced Accounting
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
12th edition
1305084853, 978-1305464803, 130546480X, 978-1305799448, 978-1305084858
