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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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When a company retires long-term financing liabilities, what information should be reported on the statement of cash flows?

To determine

State the information that must be recorded on the statement of cash flows, if the company retires long-term financing liabilities.

Explanation

Long-term liabilities: The obligations owed by a company to creditors and suppliers that cannot be not probably paid within a year  or within a normal operating cycle , whichever is longer.

  • The amount associated with the retirement of long-term li...

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