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e following information was taken from the 2024 financial statements of Novak Corporation: onds payable, January 1, 2024 onds payable, December 31, 2024 $790000 4840000 2024, the following bonds payable transactions occurred: A $716000 payment was made to retire bonds payable with a face amount of $790000. Bonds payable with a face amount of $322000 were issued in exchange for equipment. O $5162000 $4518000 O $4050000 O $4446000 its statement of cash flows for the year ended December 31, 2024, what amount should Novak report as proceeds from the uance of bonds payable?

e following information was taken from the 2024 financial statements of Novak Corporation: onds payable, January 1, 2024 onds payable, December 31, 2024 $790000 4840000 2024, the following bonds payable transactions occurred: A $716000 payment was made to retire bonds payable with a face amount of $790000. Bonds payable with a face amount of $322000 were issued in exchange for equipment. O $5162000 $4518000 O $4050000 O $4446000 its statement of cash flows for the year ended December 31, 2024, what amount should Novak report as proceeds from the uance of bonds payable?

Intermediate Accounting: Reporting And Analysis
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
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 6RE: Refer to the information in RE13-5. Assume that on June 30, Aggie received interest on the Smith...
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The following information was taken from the 2024 financial statements of Novak Corporation: Bonds payable, January 1, 2024 Bonds payable, December 31, 2024 $790000 4840000 In 2024, the following bonds payable transactions occurred: A $716000 payment was made to retire bonds payable with a face amount of $790000. Bonds payable with a face amount of $322000 were issued in exchange for equipment. In its statement of cash flows for the year ended December 31, 2024, what amount should Novak report as proceeds from the issuance of bonds payable? O $5162000 O $4518000 $4050000 O $4446000
Transcribed Image Text:The following information was taken from the 2024 financial statements of Novak Corporation: Bonds payable, January 1, 2024 Bonds payable, December 31, 2024 $790000 4840000 In 2024, the following bonds payable transactions occurred: A $716000 payment was made to retire bonds payable with a face amount of $790000. Bonds payable with a face amount of $322000 were issued in exchange for equipment. In its statement of cash flows for the year ended December 31, 2024, what amount should Novak report as proceeds from the issuance of bonds payable? O $5162000 O $4518000 $4050000 O $4446000
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