Reported in the financial statements, Accounting Basics

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Reported in the financial statements

Sealy Corporation reported the following line items in its statement of cash flows for the nine months ended August 30, 2009:(Amortization of discount on secured notes- 351,000;Amortization of debt issuance costs and other-2,925,000)In British Airways' financial statements, Note 28: "Long-term borrowings" describes the company's long-term debt. Neither of the two items above is reported in the financial statements of British Airways, and neither is likely to appear there in the future. Why?

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Accounting Basics: Reported in the financial statements

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Accounting Basics: Reported in the financial statements

Reference No:- TGS060739

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Depreciation using the straight-line method

Q : Compute the required contribution margin per unit

Q : Specific identification method of costing inventory

Q : Future to avoid future anti-trust actions

Q : Reported in the financial statements

Q : Issue of the convertible bonds

Q : Fair value adjustment account

Q : Percentage-of-completion method of accounting

Q : Compute the equity method balance

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Ask an Expert for Answer!!

Accounting Basics: Reported in the financial statements

Reference No:- TGS060739

Recent Questions Asked Accounting Basics

Q : Depreciation using the straight-line method

Q : Compute the required contribution margin per unit

Q : Specific identification method of costing inventory

Q : Future to avoid future anti-trust actions

Q : Reported in the financial statements

Q : Issue of the convertible bonds

Q : Fair value adjustment account

Q : Percentage-of-completion method of accounting

Q : Compute the equity method balance

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