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Alexxandr [17]
3 years ago
7

Assume that the Quinn Corporation uses the indirect method to depict cash flows. Indicate where, if at all, stock issued for equ

ipment would be classified on the statement of cash flows.
Business
1 answer:
trasher [3.6K]3 years ago
4 0

Answer:

No, it will not be classified on cash flow statement.

Explanation:

In the given case, stocks are issued in exchange of equipment. Assuming no cash is involved even for the balancing amount.

Since, cash flow statement records all transactions involving cash the exchange of stock issued for equipment, is nowhere involving cash thus, it will not be depicted on cash flow statement.

Final Answer

No it will not be classified on cash flow statement.

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3 years ago
An entrepreneur started a small consulting business to provide training on multi-culturalcommunication to large corporations, ed
balandron [24]

Answer:

b.

Explanation:

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8 0
4 years ago
What is Baruch Shemtov's product, and how did he begin creating it?
N76 [4]

Answer:

Baruch Shemtov's product is tie

Explanation:

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5 0
3 years ago
If sixty $1,000 convertible bonds with a carrying value of $70,000 are converted into 9,000 shares of $5 par value common stock,
Vinvika [58]

Answer:

Explanation:

The journal entry is shown below:

Bonds payable A/c Dr $60,000

Premium on bonds payable A/c Dr $10,000

           To Common stock A/c $45,000

           To Paid in capital in excess of par A/c $25,000

(Being the conversion of bonds is recorded)

The computation is shown below:

For bonds payable

= sixty $1,000 convertible bonds

That means

= 60 × $1,000

= $60,000

For Premium on bonds payable:

= $70,000 - $60,000

= $10,000

For Common stock:

= 9,000 shares × $5

= $45,000

And, the remaining balance is credited to paid in capital in excess of par

6 0
4 years ago
Where should a worker go for equipment to help put out a small fire?
zhannawk [14.2K]

911

Explanation:

police, firefighter sjdndnsksnskznxx

3 0
3 years ago
Read 2 more answers
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