ABC Company acquired some land (independently appraised at $12,000) and paid for it by issuing...
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Accounting
ABC 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 transaction be reported on the Statement of Cash Flows (SCF)?
| a. | Not reported on the SCF. |
| b | Reported $10,000 as a noncash investing and financing activity on the SCF. |
| c | Report the $12,000 as an inflow of cash on the SCF. |
| d | Report the $12,000 as a non cash activity. |
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