Question
Secrest, Inc provided the following information for 2021 and 2020: Retained Earnings, December 31, 2021.....................$222,000 Retained Earnings, December 31, 2020......................$182,000 Notes Payable, December 31, 2021.............................$122,000
Secrest, Inc provided the following information for 2021 and 2020:
Retained Earnings, December 31, 2021.....................$222,000
Retained Earnings, December 31, 2020......................$182,000
Notes Payable, December 31, 2021.............................$122,000
Notes Payable, December 31, 2020.............................$100,000
Net Income 2021...........................................................$5,000
Additional notes of $30,000 were issued in 2021.
What will be disclosed for cash paid on Notes Payable on the Statement of Cash Flows for the Fiscal Year ending December 31, 2021?
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Management Audits
Authors: Allan J. Sayle
3rd Edition
0951173901, 978-0951173909
