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.

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Definitions:

Avant-Garde

Artistic works or movements that are innovative, experimental, or unconventional, challenging established norms and often pushing the boundaries of what is considered art.

Alfred Stieglitz

An influential American photographer and modern art promoter, known for his photography advocating for the medium as a fine art.

291

A historically significant avant-garde art gallery in New York City, founded by Alfred Stieglitz, contributing significantly to the promotion of modern art in the United States.

Murals

Painted or applied directly on a wall, ceiling, or other permanent surfaces, depicting artistic or narrative scenes.