3rd Edition

ISBN: 9781323761434

Author: Horngren

Publisher: PEARSON C

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Chapter 16, Problem E16.25E

Identifying and reporting non-cash transactions
Learning Objective 2
Total Non-cash Inv and Fin Act $153,000

Dirtbikes, Inc identified the following selected transactions that occurred during the year ended December 31, 2018:

Issued 750 shares of $3 par common stock for cash of $17,000.
Issued 5,100 shares of $3 par common stock for a building with a fair market value of $90,000.
Purchased new truck with a fair market value of $29,000. Financed it 100% with a long-term note.
Retired short-term notes of $28,000 by issuing 1,900 shares of $3 par common stock.
Paid long-term note of $10,500 to Bank of Tallahassee. Issued new long-term note of $23,000 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.

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Chapter 16, Problem E16.24E

Chapter 16, Problem E16.26E

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Chapter 16 Solutions

ACCOUNTING PRINCIPLES V1 6/17 >C<

Ch. 16 - Prob. 1QC Ch. 16 - Prob. 2QC Ch. 16 - Prob. 3QC Ch. 16 - Prob. 4QC Ch. 16 - Prob. 5QC Ch. 16 - The Plant Assets account and Accumulated...Ch. 16 - Mountain Water Corp issued common stock of $28,000...Ch. 16 - Prob. 8QC Ch. 16 - Maxwell Furniture Center had accounts receivable...Ch. 16 - Prob. 10BQC

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