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Most Solutions, Incorporated, issued 11% bonds, dated January 1, with a face amount of $400 million on January 1, 2024. The bond mature in 2034 (10 years). For bonds of similar risk and maturity the market yield is 13%. Interest expense is recorded at the effecti interest rate. Interest is paid semiannually on June 30 and December 31. Most recorded the sale as follows: January 1, 2024 Cash (price) Discount on bonds (difference) Bonds payable (face amount) General Journal Debit 355,927,220 44,072,780 Answer is not complete. Cash inflow from financing activities Cash outflow from operating activities Credit Required: What would be the amount(s) related to the bonds that Most would report in its statement of cash flows for the year ended Decem 31, 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. 400,000,000

Most Solutions, Incorporated, issued 11% bonds, dated January 1, with a face amount of $400 million on January 1, 2024. The bond mature in 2034 (10 years). For bonds of similar risk and maturity the market yield is 13%. Interest expense is recorded at the effecti interest rate. Interest is paid semiannually on June 30 and December 31. Most recorded the sale as follows: January 1, 2024 Cash (price) Discount on bonds (difference) Bonds payable (face amount) General Journal Debit 355,927,220 44,072,780 Answer is not complete. Cash inflow from financing activities Cash outflow from operating activities Credit Required: What would be the amount(s) related to the bonds that Most would report in its statement of cash flows for the year ended Decem 31, 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. 400,000,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Most Solutions, Incorporated, issued 11% bonds, dated January 1, with a face amount of $400 million on January 1, 2024. The bond mature in 2034 (10 years). For bonds of similar risk and maturity the market yield is 13%. Interest expense is recorded at the effecti interest rate. Interest is paid semiannually on June 30 and December 31. Most recorded the sale as follows: January 1, 2024 General Journal Cash (price) Discount on bonds (difference) Bonds payable (face amount) Debit 355,927,220 44,072,788 Cash inflow from financing activities Cash outflow from operating activities Credit 400,000,000 Required: What would be the amount(s) related to the bonds that Most would report in its statement of cash flows for the year ended Decem 31, 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. Answer is not complete.
Transcribed Image Text:Most Solutions, Incorporated, issued 11% bonds, dated January 1, with a face amount of $400 million on January 1, 2024. The bond mature in 2034 (10 years). For bonds of similar risk and maturity the market yield is 13%. Interest expense is recorded at the effecti interest rate. Interest is paid semiannually on June 30 and December 31. Most recorded the sale as follows: January 1, 2024 General Journal Cash (price) Discount on bonds (difference) Bonds payable (face amount) Debit 355,927,220 44,072,788 Cash inflow from financing activities Cash outflow from operating activities Credit 400,000,000 Required: What would be the amount(s) related to the bonds that Most would report in its statement of cash flows for the year ended Decem 31, 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. Answer is not complete.
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