Question
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
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 $25,000 for the year ended December 31, 2019. In addition, Madison repaid $37,000 of the notes payable during 2019.
Required:
Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows). $fill in the blank 1
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
