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AccountingCornerstones of Financial AccountingDetermining 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.
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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.

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881
BuyFind

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881

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Chapter 11, Problem 31BE
Textbook Problem

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.

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Chapter 11 Solutions

Cornerstones of Financial Accounting
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