Blue Inc. reports under IFRS and has adopted the policy of classifying interest received as an investing activity. During 2023, Blue len $29,000 to a key supplier in exchange for a two-year interest-bearing promissory note. Interest revenue earned on the note and recorded on the statement of income was in the amount of $1,230 and a balance of $410 for interest receivable was reported on the statement of financial position at December 31, 2023, relating to the note. Prepare Blue's cash flows from (used by) investing activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000 or in parenthesis e.g. (15,000).) Blue Inc. Statement of Cash Flows
Blue Inc. reports under IFRS and has adopted the policy of classifying interest received as an investing activity. During 2023, Blue len $29,000 to a key supplier in exchange for a two-year interest-bearing promissory note. Interest revenue earned on the note and recorded on the statement of income was in the amount of $1,230 and a balance of $410 for interest receivable was reported on the statement of financial position at December 31, 2023, relating to the note. Prepare Blue's cash flows from (used by) investing activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000 or in parenthesis e.g. (15,000).) Blue Inc. Statement of Cash Flows
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 28E: On January 1, 2019, Northfield Corporation becomes delinquent on a 100,000, 14% note to First...
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