Blue Inc. reports under IFRS and has adopted the policy of classifying interest received as an investing activity. During 2023, Blue lent $29,000 to a key supplier in exchange for a two-year interest-bearing promissory note. Interest revenue earned on the note and recorded on the statement of income was in the amount of $1,230 and a balance of $410 for interest receivable was reported on the statement of financial position at December 31, 2023, relating to the note. Prepare Blue's cash flows from (used by) investing activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blue Inc. Statement of Cash Flows > tA tA
Blue Inc. reports under IFRS and has adopted the policy of classifying interest received as an investing activity. During 2023, Blue lent $29,000 to a key supplier in exchange for a two-year interest-bearing promissory note. Interest revenue earned on the note and recorded on the statement of income was in the amount of $1,230 and a balance of $410 for interest receivable was reported on the statement of financial position at December 31, 2023, relating to the note. Prepare Blue's cash flows from (used by) investing activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blue Inc. Statement of Cash Flows > tA tA
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Gadubhai
Transcribed Image Text:Blue Inc. reports under IFRS and has adopted the policy of classifying interest received as an investing activity. During 2023, Blue lent
$29,000 to a key supplier in exchange for a two-year interest-bearing promissory note. Interest revenue earned on the note and
recorded on the statement of income was in the amount of $1,230 and a balance of $410 for interest receivable was reported on the
statement of financial position at December 31, 2023, relating to the note.
Prepare Blue's cash flows from (used by) investing activities section of the statement of cash flows. (Show amounts that decrease cash
flow with either a negative sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Blue Inc.
Statement of Cash Flows
>
tA
tA
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