A company acquired some land (independently appraised at $12,200) and paid for it by issuing...
90.2K
Verified Solution
Link Copied!
Question
Accounting
A company acquired some land (independently appraised at $12,200) and paid for it by issuing 1,020 shares of its common stock (par $10 per share; no market price was quoted). How should this be reported on the statement of cash flows? The transaction should not be reported on the statement of cash flows. Report $12,200 as inflow and outflow of cash. Report $12,200 as an inflow of cash. Report in a schedule of significant noncash investing and financing activities.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
