Solved

While Preparing a Statement of Cash Flows,you Encountered the Following

Question 35

Essay

While preparing a statement of cash flows,you encountered the following transaction:
February 1,2011: Galvinize Corporation acquired a small office building in exchange for 5,000 shares of its own common stock; par value $10 per share; market value $15 per share.
A.Should this transaction be shown on the statement of cash flows?
B.Why or why not? 

Correct Answer:

verifed

Verified

A.Yes
B.Because it is a direct exchange,...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions