Reporting issuance and retirement of longterm debt
On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the "Cash flows from used for financing activities" section of the statement of cash flows, assuming no gain or loss on retiring the bonds:
ACCOUNT Bonds Payable
tableDateItem,Debit,Credit,tableBalanceDebittableBalanceCreditJanuary Balance,,,,January Retire bonds,June Issue bonds,,
tableACCOUNT Discount on Bonds Payable,ACCOUNT NODateItem,Debit,Credit,tableBalanceDebittableBalanceCreditJanuary Balance,,,January Retire bonds,,June Issue bonds,December Amortize discount,,
tableItems Section of Statement of Cash Flows Added or Deducted Amount,,Retire bonds,,
Previous
Next
