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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Determining Net
Madison Company reported the following information:
| 12/31/2019 | 12/31/2018 | |||
| Notes payable | $95,000 | $75,000 | ||
| Common stock | 120,000 | 80,000 | ||
| 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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