Business, 13.05.2021 19:20 danielboek

Most Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $480 million on January 1, 2021. The bonds mature in 2031 (10 years). For bonds of similar risk and maturity the market yield is 12%. Interest expense is recorded at the effective interest rate. Interest is paid semiannually on June 30 and December 31. Most recorded the sale as follows: January 1, 2021
Cash (price) 566,589,440
Discount on bonds (difference) 73,410,560
Bonds payable (face amount) 640,000,000

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 December 31, 2021?

Answers: 1

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Most Solutions, Inc., issued 10% bonds, dated January 1, with a face amount of $480 million on Janua...