Question
Venge Ltd reported interest expense of $79,000 during X2. Venges income tax rate is 30%. Venge provided the following information. Venge prepares its statement of
Venge Ltd reported interest expense of $79,000 during X2. Venges income tax rate is 30%. Venge provided the following information. Venge prepares its statement of cash flows using the direct method
| 12/31/X2 | 12/31/X1 | |
| Interest Payable | 24,000 | 36,000 |
| Premium on Bond Payable | 12,000 | 19,000 |
How much cash should the company report as being paid for interest expense
- A.
79,000
- B.
84,000
- C.
58,800
- D.
98,000
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The Development Of The American Public Accounting Profession
Authors: T.A. Lee
1st Edition
0415403944, 9780415403948
