Dennis Company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired, 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) $(50,000)
E) Zero. This is an investing activity.
Ans: B) $(60,000).
Business
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Fire Inc., a sports brand, gives a portion of its profits to the local sports club that offers free coaching to children from lower income groups. This donation to a community organization is an example of
A. economic responsibility. B. legal responsibility. C. ethical responsibility. D. philanthropic responsibility. E. political responsibility.
Business
Agency Law prohibits which of the following brokerage activities?
a. Accepting commissions from both the buyer and the seller. b. Acting as an escrow. c. Selling property they own. d. Accepting kickbacks from the lender.
Business