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Q1) While creating a cash flow statement, you encountered the following transaction:

February 1: company obtained a small office equipment in exchange for 5,000 shares of its own common shares; par value $10 per share; market value $15 per share.

a) Should this transaction be included in calculations on the cash flow statement or shown in note

b) Describe your answer

Accounting Basics, Accounting

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  • Reference No.:- M921339

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