What is the amount to be reported under cash flows from financing activities?
Submitted by admin on February 9, 2010 – 1:03 pmNo Replies
A web user asks, A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be reported under cash flows from financing activities is:
A. $ (3,000).
B. $(60,000).
C. $(57,000).
D. Zero. This is an operating activity.
E. Zero. This is an investing activity
Thank you.
Can you help them out? Post your advice!
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