Mountain water corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. in what section(s) would

Question

dezoksy [38]

3 years ago

14

Mountain water corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. in what section(s) would

these transactions be recorded?

Business

1 answer:

navik [9.2K] · Answer 1 · 2022-03-16T03:19:19+03:00

navik [9.2K]3 years ago

7 0

These transactions would be recorded in the <span>non-cash investing and financing activities. Since this that does not directly affect the cash on hand, instead, the</span> issuance of common stock to retire long-term debt is done.

Mountain water corp. issued common stock of​ $28,000 to pay off​ long-term notes payable of ​$28,000. in what​ section(s) would

Mountain water corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. in what section(s) would