This year Quark Corporation (a publicly traded company on the Toronto) exchanged 250,000 of its...
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This year Quark Corporation (a publicly traded company on the Toronto) exchanged 250,000 of its no par value common shares for 3 parcels of land from Neutron Limited. The land and building was appraised by professional appraisers at a value between $1,200,000 $1,400,000 with the best estimate at $1,250,000. Quark's shares are trading at $5.72 on the date of the transaction.
Required 1: What is the impact of this transaction of the Statement of Cash Flows? $
Required 2: In Quark books, what is the value of the land acquired? $
Required 3: If this is the only transaction affecting Quark's non current assets, what is the amount of cash generated (used) by investing activities if the depreciation expense of the acquired land and building is $30,000? $
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