Genesis reported that bonds with a face value of $100,000 and a carrying value of $67,000...
Genesis reported that bonds with a face value of $100,000 and a carrying value of $67,000 are retired for $60,000 cash, resulting in a loss of $7,000. The amount to be reported in the financing section is:
a. $58,000.
b. $57,000.
c. $60,000.
d. This item is not reported.
e. $(3,000).
Homework Answers
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Option C is the answer ($60,000) |
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Amount to be reported in the financing activities section = Cash used in retiring bonds = 60,000 Comment if you face any issues |
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Genesis reported that bonds with a face value of $100,000 and a
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