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J-8 Networking Solutions began operations on January 1, 20X6. During 20X6, the company recorded the following journal entries to account for certain equity transactions: E: (Click the icon to view the journal entries.) Requirement 1. Show how the company reported cash flows from financing activities during 20X6. (Use parentheses or a minus sign to show cash outflows.) Cash flows from financing activities: Cash Increase in total shareholders' equity Net income Payment of dividends Proceeds from issuance of share capital Submit quia Proceeds from sale of treasury shares Data table J-8 Networking Solutions began operations on January 1, 20X6. During 20X6, the comp E: (Click the icon to view the journal entries.) Requirement 1. Show how the company reported cash flows from financing activities during 20X6. Entry Date Accounts Debit Credit Cash 448,000 (Use parentheses or a minus sign to show cash outflows.) 56,000 Cash flows from financing activities: 392,000 Share Capital Additional Paid-in Capital Issued 56,000 ordinary shares for $8 per share. Treasury Shares Cash Purchased 1,100 shares of treasury shares, paying $11 per share. Cash 12,100 12,100 Increase in total shareholders' equity Net income Cash 6,600 Treasury Shares 6,600 Payment of dividends Proceeds from issuance of share capital Proceeds from sale of treasury shares Print Done Purchase of treasury shares Total shareholders' equity Submit a Data table Mortgage note payable, current $ $ 164,000 Accumulated depreciation, 92,000 equipment Discount on bonds payable 450,000 (all long-term) 1,400.000 Operating income. Equipment 22,000 . Accumulated pension benefit obligation Bonds payable, long-term. Mortgage note. payable, long-term Bonds payable, current portion 340,000 743,000 313,000 Pension plan assets 415,000 400,000 (market value) 226,000 Interest payable Interest expense 74.000 Print Done The accounting records of Brighton Foods, Inc., include the following items at December 31, 20X0: .. Assets Liabilities Current liabilities: Property, plant, and equipment Equipment 74000 743000 (164000) Accumulated depreciation Interest payable Mortgage note payable, current Bonds payable, current portion 92000 579000 400000 Total current liabilities 566000 Long-term liabilities: Mortgage note payable, long-term 313000 Bonds payable, long-term Less: Discount on bonds payable Total long-term liabilities Accumulated depreciation Bonds payable, current portion clude Bonds payable, long-term Current liabilities: Discount on bonds payable Equipment Interest expense Interest payable Bonds payable. long-term Less: Discount on bonds payable Total long-term liabilities SA Dege. De Interest payable Interest revenue ., include Long-term liabilities: Mortgage note payable, current 13000 Mortgage note payable, long-term 4000) Net Pension asset 79000 Net Pension liability Property, plant, and equipment Bonds payable, long-term Less: Discount on bonds payable Total long-term liabilities AN Long-term liabilities: Mortgage note payable, current ide Mortgage note payable, long-term Net Pension asset Net Pension liability Property, plant, and equipment Total current liabilities Total long-term liabilities Bonds payable, long-term Less: Discount on bonds payable Total long-term liabilities Less: Discount on bonds payable Total long-term liabilities Requirement 2. Answer the following questions about Brighton's financial position at December 31, 20X0: a. What is the carrying amount of the bonds payable (combine the current and long-term amounts)? $| b. Why is the interest payable amount so much less than the amount of interest expense? Interest payable is the Interest expense is the Requirement 3. How many times did Brighton cover its interest expense during 20X0? (Round your answer to two decimal places.) Brighton covered its interest expense times. Donus payable, long-term Less Discount on bonds payable Total long-term liabilities Requirement 2. Answer the following questions about Brighton's financial position at December 31, 20X0: a. What is the carrying amount of the bonds payable (combine the current and long-term amounts)? $0 b. Why is the interest payable amount so much less than the amount of interest expense? Interest payable is the Interest expense is the Requirement 3. How n Brighton covered its int amount of interest that the company owes at year-end ound your answer to two decin company's cost of borrowing for the full year. WhatsApp Iman