Question: I am confused with this problem. I need to create a Statement of Cash Flows. This is all the information they give me. I would
The bonds payable account of Rundell Inc. decreased by S50,000, as follows: Account Bonds Payable Account No. Balance Debit Credit Debit Credit Date Item 2048 Jan. 1 Balance June 1 Retired by payment of cash at face amount 150,000 100,000 50,000 This decrease is from retiring the bonds by a cash payment for their face amount. This cash outflow is reported in the Financing Activities section as follows: Cash flows from financing activities: Cash paid to retire bonds payable $(50,000)
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