reporting issuance and retirement of long term debt.

what is the $ amount?

Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds: ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Debit Credit Debit Credit Jan. 1 Item Balance Retire bonds Issue bonds 580,000 464,000 2 116,000 June 30 348,000 812,000 ACCOUNT Discount on Bonds Payable ACCOUNT NO. All work saved Email Instructor Save and Exit Submit Assienment for Gradine UNT Discount on Bonds Payable ACCOUNT NO. Balance ate Item Debit Credit Debit Credit . 1 Balance 26,100 2 Retire bonds 9,280 16,820 30 Issue bonds 23,300 40,120 31 Amortize discount 2. 38,110 Amount Added or Deducted Deducted bonds Section of Statement of Cash Flows Financing activities section Financing activities section Operating activities section, if indirect method used hands Added - kion of discount Added edback Check My Work Recall the journal entries that would be made to retire and to issue bonds. How do you determine the carrying value of a bond? Keep in mind that many times bonds are issued at a discount or a premium rather than at par. What affect does the discount or premium have on the cash amount received or paid when a bond is issued or retired? What kind of cash flow activities would these be? Recall the journal entry to record the amortization of a discount. What affect does this transaction have on cash? What affect would this transaction have on the financial statements? Would there need to be an adjustment for the amortization on the statement of cash flows? Check My Work Previous Next > All work saved Email Instructor