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Problem:

Use the following company information to prepare a schedule of significant noncash investing and financing activities:

a) Sold a building with a book value of $125,000 for $195,000 cash and land with a book value of $32,000 for $65,000 cash.

b) Issued 10,000 shares of $10 par value common stock in exchange for equipment with a market value of $135,000.

c) Retired a $100,000, 10% bond by issuing another $100,000, 12% bond issue.

d) Acquired land by issuing a ten-year, 9%, $44,000 note payable.

Note: Provide support for your rationale.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91163629

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