The Operating Activities section of Washburn Company's 2012 statement of cash flows reported an adjustment for a

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The Operating Activities section of Washburn Company's 2012 statement of cash flows reported an adjustment for a gain on the retirement of bonds of $5,000. The Financing Activities section of the statement reported a cash outflow of $95,000 from the retirement of the bonds.
Required
1. Is the gain on the retirement of the bonds added or deducted in the Operating Activities section of the statement of cash flows?
2. What was the book value of the bonds retired?

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Using Financial Accounting Information The Alternative to Debits and Credits

ISBN: 978-1111534912

8th edition

Authors: Gary A. Porter, Curtis L. Norton

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Question Posted: Nov 25, 2016 11:34 AM

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The Operating Activities section of Washburn Company's 2012 statement of cash flows reported an adjustment for a

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1 The gain on the retirement of the bonds is deducted in the Operating Activities sect...View the full answer

Using Financial Accounting Information The Alternative to Debits and Credits

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