Tritan 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 2016,the company repaid $35,000 of long-term notes payable.
2.During 2016,the company borrowed $23,000 on a new note payable.
Based on the above information only,what amount of net cash flow would be shown in the financing section of the statement of cash flows?
A)$(12,000)
B)$12,000
C)$58,000
D)$(58,000)

Question

Tritan 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 2016,the company repaid $35,000 of long-term notes payable.
2.During 2016,the company borrowed $23,000 on a new note payable.
Based on the above information only,what amount of net cash flow would be shown in the financing section of the statement of cash flows?
A)$(12,000) 
B)$12,000 
C)$58,000 
D)$(58,000)

Quizplus · Accepted Answer

A) 11ea8a42_4f6f_4bcf_8b44_9374cbf6cbec_TB5024_00

Tritan Company Is Preparing Its Statement of Cash Flows Using