s the carrying value of the bonds after the first interest date (after t er the

Question

s the carrying value of the bonds after the first interest date (after t er the issue date)? The following information relates to Lonborg Corporation problem worth 10 points) onborg Corporation for the year ended December 31, 2009: (This Net Income Depreciation Expense Amortization of Intangible Assets Beginning Accounts Receivable Ending Accounts Receivable Beginning Inventory Ending Inventory Beginning Prepaid Expenses Ending Prepaid Expenses Beginning Accounts Payable Ending Accounts Payable Purchase of Long-Term Assets for Cash Cash from Issuance of Long-Term Debt Issuance of Stock for Cash Issuance of Stock for Long-Term Assets Purchase of Treasury Stock Sale of Long-Term Investment at Cost $300,000 72,000 9,000 336,000 351,000 413,000 450,000 34,000 38,000 95,000 116,000 493,000 160,000 128,000 88,000 51,000 31,000

Explanation / Answer

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Cash flows from operating activities Net Income   $ 300,000 Adjustments to reconcile net income to : Depreciation expenses $   72,000 Amortization expenses $      9,000 Increase in accounts receivable $ (15,000) 336000-351000 Increase in inventory $ (37,000) 413000-450000 Increase in prepaid expenses $   (4,000) 34000-38000 Increase in accounts payable $   21,000 116000-95000 $    46,000 Net cash flow from operating activities $ 346,000

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