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onsin, Wo uld issue 50,000 shares of common stock investing activities section operating activities section financing activities section non-cash investing and financing activities section

onsin, Wo uld issue 50,000 shares of common stock investing activities section operating activities section financing activities section non-cash investing and financing activities section

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Wisconsin, Inc. owed one of its creditors $350,000, but it did not have enough cash to repay the debt. Following lengthy negotiations, the parties agreed that Wisconsin, Inc. would issue 50,000 shares of common stock to settle the debt. On the statement of cash flows, this transaction is shown in the investing activities section operating activities section financing activities section non-cash investing and financing activities section
Transcribed Image Text:Wisconsin, Inc. owed one of its creditors $350,000, but it did not have enough cash to repay the debt. Following lengthy negotiations, the parties agreed that Wisconsin, Inc. would issue 50,000 shares of common stock to settle the debt. On the statement of cash flows, this transaction is shown in the investing activities section operating activities section financing activities section non-cash investing and financing activities section
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