During 2011, Arizona Company issued $500,000 in long-term bonds at 96, repaid $75,000 of bonds at face value, paid interest of $40,000, and paid dividends of $25,000. Prepare the cash flows from the financing activities section of the statement of cash flows.View Solution: During 2011 Arizona Company issued 500 000 in long term bonds at
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During 2011, Arizona Company issued $500,000 in long-term bonds at 96, repaid $75,000 of bonds at face value, paid interest of $40,000, and paid dividends of $25,000. Prepare the cash flows from the financing activities section of the statement of cash flows.View Solution:
During 2011 Arizona Company issued 500 000 in long term bonds at
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- Herbert Company reported the following information for 2013: Repaid long-term debt $75,000 Paid interest on note payable 1,570 Issued common stock 30,000 Paid dividends 18,000 Based on this information, what is the cash flow from financing activities?During 2020, Simms Company redeemed $2,000,000 of bonds payable for $1,880,000 cash. Indicate how this transaction would be reported on a statement of cash flows, if at all.On January 1, Year 1, Jones Company issued bonds with a $250,000 face value, a stated rate of interest of 8.5%, and a 5-year term to maturity. The bonds were issued at 98. Interest is payable in cash on December 31st of each year. The company amortizes bond discounts and premiums using the straight-line method. What is the amount of cash outflow from operating activities shown on Jones' statement of cash flows for the year ending December 31, Year 2? Multiple Choice $21,250 $22,250 $20.250 $23,250
- Kier Company issued $620,000 in bonds on January 1, Year 1. The bonds were issued at face value and carried a 3-year term to maturity. They had a 5.50% stated rate of interest that was payable in cash on December 31st. Based on this information alone, the amount of interest expense shown on the December 31, Year 1 income statement and the cash flow from operating activities shown on the December 31, Year 1 statement of cash flows would be: Interest Expense A. B. C. D. $34,100 zero $34,100 zero Cash Outflow zero $34,100 $34,100 zeroKier Company issued $620,000 in bonds on January 1, Year 1. The bonds were issued at face value and carried a 3-year term to maturity. They had a 5.50% stated rate of interest that was payable in cash on December 31st. Based on this information alone, the amount of interest expense shown on the December 31, Year 1 income statement and the cash flow from operating activities shown on the December 31, Year 1 statement of cash flows would be: A. B. C. D. Interest Expense $34,100 zero $34,100 zero Cash Outflow zero $34,100 $34,100 zero 9:34 PM ✓Company Y issues $ 20,000,000 of 10 - year, 9% bonds on March 1, 2015 at 97 plus accrued interest. The bonds are dated January 1, 2015, and pay interest on June 30 and December 31. What is the total cash received on the issue date?
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- Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $15,000,000 of 20-year, 9% callable bonds on May 1, 20Y1, at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. Journalize the entries to record the following selected transactions:20Y1May 1. Issued the bonds for cash at their face amount.Nov. 1. Paid the interest on the bonds.20Y5Nov. 1. Called the bond issue at 96, the rate provided in the bond indenture.(Omit entry for payment of interest.)Kim Co. reported bonds payable of $35,000 at December 31, 2010, and $32,000 at December 31, 2011. During 2011, Kim issued $20,000 of bonds payable in exchange for equipment. There was no amortization of bond premium or discount during the year. What amount should Kim report in its 2011 statement of cash flows for redemption of bonds payable?Ware Co. produces and sells motorcycle parts. On the first day of its fiscal year, Ware issued $29,000,000 of five-year, 13% bonds at a market (effective) interest rate of 10%, with interest payable semiannually. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Compute the following: The amount of cash proceeds from the sale of the bonds. Round your answer to the nearest dollar. $ fill in the blank 2 The amount of premium to be amortized for the first semiannual interest payment period, using the interest method. Round your answer to the nearest dollar. $ fill in the blank 3 The amount of premium to be amortized for the second semiannual interest payment period, using the interest method. Round your answer to the nearest dollar. $ fill in the blank 4 The amount of the bond interest expense for the first year. Round your answer to the nearest…