Madison Company reported the following information: ______________ 12/31/2019 12/31/2018 Notes payable .................. $ 95,000 ..................... $75,000

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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 Accounting

ISBN: 978-1337690898

4th edition

Authors: Jay Rich, Jeff Jones

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Question Posted: Dec 11, 2017 09:07 AM

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Madison Company reported the following information: ________________________ 12/31/2019 __________ 12/31/2018 Notes payable .................. $ 95,000 ..................... $75,000

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Madison Company reported the following information: ______________ 12/31/2019 12/31/2018 Notes payable .................. $ 95,000 ..................... $75,000