35 q.

The Keweenaw Sunshine Development Corporation reported the following for the year ended December 31, 20X1:

	1/1/X1				12/31/X1
Discount on Bonds Payable	$	17,500			$	15,750
Interest Payable	$	19,500			$	17,350
Interest Expense $47,750

How much cash did Keweenaw pay for interest during 20X1?

Multiple Choice

• $48,150

• $46,350

• $43,850

• $51,650

38.q.

Which of the following would be included in the statement of cash flows in the financing activities section?

Multiple Choice

• Issuing a new class of common stock.

• Issuing common stock in exchange for equipment will create a cash outflow in the investing activities section of the cash flow statement and a cash inflow in the financing activities section of the cash flow statement.

• Issuing common stock in exchange for land.

• Issuing common stock in exchange for a building.