Washington Company is preparing its statement of cash flows using the indirect method.Refer to the following portion of the comparative balance sheet: Additional information provided by the company includes the following:
1)During 2019,the company repaid $38,000 of long-term notes payable.
2)During 2019,the company borrowed $27,000 on a new long-term note payable.
Based on the above information only,what amount of net cash flow would be shown in the financing section of the statement of cash flows?
A)$(11,000)
B)$11,000
C)$65,000
D)$(65,000)

Question

Washington Company is preparing its statement of cash flows using the indirect method.Refer to the following portion of the comparative balance sheet:  Additional information provided by the company includes the following:
1)During 2019,the company repaid $38,000 of long-term notes payable.
2)During 2019,the company borrowed $27,000 on a new long-term note payable.
Based on the above information only,what amount of net cash flow would be shown in the financing section of the statement of cash flows?
A)$(11,000) 
B)$11,000 
C)$65,000 
D)$(65,000)

Quizplus · Accepted Answer

11ea8a75_428f_ac96_a2a1_0d15df918b79_TB6701_00

Washington Company Is Preparing Its Statement of Cash Flows Using