Swasey Company earned net income of $1,800,000 in 20X2. Swasey provided the following information: Swasey Company Comparative
Question:
Swasey Company earned net income of $1,800,000 in 20X2. Swasey provided the following information:
Swasey Company
Comparative Balance Sheets
At December 31, 20X1 and 20X2
20X1 20X2
Bonds payable..................$ -.................$ 770,000
Mortgage payable...........200,000.........................-
Swasey Company
Comparative Balance Sheets
At December 31, 20X1 and 20X2
20X1 20X2
Common stock.........................750,000.................750,000
Paid-in capital in excess of par.......560,000.................560,000
Retained earnings....................3,650,000...............4,650,000
Required:
Compute the financing cash flows for the current year.
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Related Book For
Managerial Accounting The Cornerstone of Business Decision Making
ISBN: 978-1337115773
7th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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