Question
The following account balances appear on Logan Companys balance sheet at the beginning and end of 20X2: 1/1/20X2 12/31/20X2 Bonds Payable $100,000 $90,000 Treasury Stock
The following account balances appear on Logan Companys balance sheet at the beginning and end of 20X2:
1/1/20X2 12/31/20X2
Bonds Payable $100,000 $90,000
Treasury Stock 4,000 2,000
Capital in Excess of Cost-Treasury 0 200
Common Stock 13,000 16,000
Capital in Excess of Par-Common 92,000 119,000
Loss on Early Extinguishment of Bonds Payable 0 3,000
During the year, bonds payable were repaid, but no new bonds were issued. Treasury stock was reissued and common stock was issued, both for cash. On the statement of cash flows, what amount should be reported as cash paid on bonds payable?
Please help me understand how to find this, I am so confused:( I always upvote!
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