Use the Following Company Information to Prepare a Schedule of Significant

question 151

Essay

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 10-year,9%,$44,000 note payable.