Question
Madison Company reported the following information: Notes payable Common stock Retained earnings 12/31/2023 $95,000 120,000 20,000 12/31/2022 $75,000 80,000 36,000 Madison reported net income
Madison Company reported the following information: Notes payable Common stock Retained earnings 12/31/2023 $95,000 120,000 20,000 12/31/2022 $75,000 80,000 36,000 Madison reported net income of $37,000 for the year ended December 31. In addition, Madison repaid $44,000 of the notes payable during the year. Required: Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows). X
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
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