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Methods of preparing the statement of cash flows

Problem 1.The two methods of preparing the statement of cash flows differ in the preparation of which section?

a. Operating
b. Investing
c. Financing
d. Notes to the financial statement
e. None of the other answers

Problem 2. Laghenfeld Miller bought $30,000 worth of 8% semiannual bonds at 98 in the City of San Diego. How much did Laghenfeld pay for the bonds?

a. $30,000
b. $29,400
c. $1,200
d. None of the other answers

Problem 3. Please refer back to question 2.

How much bond interest will Mr. Miller receive every six months?

a. $1,200
b. $2,400
c. $1,176
d. $30,000
e. None of the other answers

Problem 4. Please refer back to question 2.

At maturity, how much will the bonds pay to Mr. Miller (excluding interest)?

a. $29,400
b. $30,000
c. $1,200
d. None of the other answers

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Methods of preparing the statement of cash flows

Reference No:- TGS01737902

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Methods of preparing the statement of cash flows

Reference No:- TGS01737902

Recent Questions Asked Accounting Basics

Q : Difference between normal and abnormal spoilage

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Q : Assumption of accounting-activities of an entity

Q : Preparing statement using the indirect method

Q : Methods of preparing the statement of cash flows

Q : Accounting changes and error corrections in u.s. gaap

Q : Plant-wide factory overhead rate

Q : Sector benefits the most from the transactions

Q : Liquidate investments to raise cash

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