a company has just signed a 90-day non-trade note payable to borrow $20,000. when preparing its statement of cash flows (using the indirect method), how should the company report the interest paid on the note?

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10-11-2022
Business

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a company has just signed a 90-day non-trade note payable to borrow $20,000. when preparing its statement of cash flows (using the indirect method), how should the company report the interest paid on the note?

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sapanpandit sapanpandit · Answer 1 · 2022-11-16T07:00:09+01:00

The company should report the interest paid on the note as a cash outflow from operating activities.

The tasks a company performs that are directly relevant to offering its products and/or services to the market are referred to as operating activities. A product or service is manufactured, distributed, marketed, and sold. These are the company's primary business activities.

Operating activities are different from investing and finance activities, which are corporate tasks unrelated to the delivery of goods and services. Operating activities are all the things a business does to consistently market its goods and services.

Learn more about Operating activities here:

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