Question
The information below was provided by Davidson Company for 2021 and 2020. 12/31/21 12/31/20 Change Notes Payable $21,000 $24,500 (3,500) Retained Earnings 40,000 38,000 2,000
The information below was provided by Davidson Company for 2021 and 2020.
|
| 12/31/21 | 12/31/20 | Change |
| Notes Payable | $21,000 | $24,500 | (3,500) |
| Retained Earnings | 40,000 | 38,000 | 2,000 |
Net Income for 2021 was $32,000. No additional notes payable were issued during 2021. Prepare the financing activities section of the statement of cash flows for 2021.
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Frank Woods Business Accounting Volume 2
Authors: Frank Wood, Ph.D. Sangster, Alan
12th Edition
0273767925, 9780273767923
