Question
Brief Exercise 11-31 Determining Net Cash Flow from Financing Activities Madison Company reported the following information: 12/31/2019 12/31/2018 Notes payable $95,000 $75,000 Common stock 120,000
Brief Exercise 11-31 Determining Net Cash Flow from Financing Activities
Madison Company reported the following information:
| 12/31/2019 | 12/31/2018 | |||
| Notes payable | $95,000 | $75,000 | ||
| Common stock | 120,000 | 80,000 | ||
| Retained earnings | 20,000 | 36,000 | ||
Madison reported net income of $26,000 for the year ended December 31, 2019. In addition, Madison repaid $35,000 of the notes payable during 2019.
Required:
Compute net cash flow from financing activities.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Energy Audits And Improvements For Commercial Buildings
Authors: Ian M. Shapiro
1st Edition
1119084164, 978-1119084167
