There was no amortization of bond premium or discount, Ask an Expert

Accounting

Kim Co. reported bonds payable of $47,000 at December 31, 2010 and $50,000 at December 31,2011. during 2011, Kim issued $20,000 of bonds payable in exchange for equipment. There was no amortization of bond premium or discount during the year. What amlount should Kim report in its 2011 statement of cash flows for redemption of bonds payable?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9410518

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