Inc. identified the following selected transactions occurring during the year ended December 31, 2018: a. issued 850 shares of $4 par common stock for cash of $25,000. b. issued 4,800 shares of $4 par common stock for building with fair market value of $98,000. c. purchased new truck with fair market value of $31,000. financed it 100% with long-term note. d. retired short-term notes $27,000 by issuing 2,7000 shares of $4 par common stock. e. paid long-term notes of $10,000 to Bank of Tallahassee. issued new long-term note of $20,000 to Bank of Trust. Identify any non-cash transactions that occurred during the year, and show how they would be reported in the non-cash investing and financing activities section of the statement of cash flows. Inc Statement of Cash Flows (partial) Year Ended December 31, 2018 Non-cash Investing and Financial Activities Total non-cash Investing and Financing Activities
Inc. identified the following selected transactions occurring during the year ended December 31, 2018:
a. issued 850 shares of $4 par common stock for cash of $25,000.
b. issued 4,800 shares of $4 par common stock for building with fair market value of $98,000.
c. purchased new truck with fair market value of $31,000. financed it 100% with long-term note.
d. retired short-term notes $27,000 by issuing 2,7000 shares of $4 par common stock.
e. paid long-term notes of $10,000 to Bank of Tallahassee. issued new long-term note of $20,000 to Bank of Trust.
Identify any non-cash transactions that occurred during the year, and show how they would be reported in the non-cash investing and financing activities section of the statement of cash flows.
Inc
Statement of Cash Flows (partial)
Year Ended December 31, 2018
Non-cash Investing and Financial Activities
Total non-cash Investing and Financing Activities
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
