Solved: How should this be reported on the statement of cash flows, Financial Accounting

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How should this be reported on the statement of cash flows

A company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 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?

A. Report $12,000 as inflow and outflow of cash.

B. Report $12,000 as an inflow of cash.

C. Should not be reported on the statement of cash flows.

D. Report in the schedule of significant noncash transactions.

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Financial Accounting: How should this be reported on the statement of cash flows

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Solution Preview :

Prepared by a verified Expert

Financial Accounting: How should this be reported on the statement of cash flows

Reference No:- TGS0688516

Have a Question? (oR Write a Review)

Recent Questions Asked Financial Accounting

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Solution Preview :

Prepared by a verified Expert

Financial Accounting: How should this be reported on the statement of cash flows

Reference No:- TGS0688516

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