Question
During 2017, Sunland Company redeemed $1,880,000 of bonds payable for $1,767,000 cash. Indicate how this transaction would be reported on a statement of cash flows,
During 2017, Sunland Company redeemed $1,880,000 of bonds payable for $1,767,000 cash. Indicate how this transaction would be reported on a statement of cash flows, if at all. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
| Sunland Company Statement of Cash Flows | |||
| Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | |||
| Net Income | $XXXX | ||
| Adjustments to reconcile net income to | |||
| Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | |||
| Redemption of Bonds Payable Loss on Sale of Plant Assets Loss on Redemption of Bonds Payable Net Income Depreciation Expense Gain on Redemption of Bonds Payable | $ | ||
| Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | |||
| Depreciation Expense Redemption of Bonds Payable Gain on Redemption of Bonds Payable Loss on Redemption of Bonds Payable Net Income Loss on Sale of Plant Assets | $ | ||
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