FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Do we add in notes payable due 2024 into our statement of cashflows when the balance sheet has dates 2021 and 2022?

Expert Solution
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The cash flow statement is one of the components of the financial statement which is prepared at the end of an accounting period to know the cash flows. It summarized all the cash flows in three activities financing, investing, and operating. It shows whether the entity has generated cash or used the cash throughout the year.

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