Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Disc Golt, Inc. identified the following selected transactions that occurred during the year ended December 31, 2024 Click the icon to view the transactions) Identify

image text in transcribed
image text in transcribed
Disc Golt, Inc. identified the following selected transactions that occurred during the year ended December 31, 2024 Click the icon to view the transactions) Identify any non-cash transactions that occurred during the year, and show how they would be reported in the non-cash investing and financing activities section of the statement of cash flows. (If a box la not used in the table, leave the box empty, do not select a label or enter a zero) Disc Golf, Inc. Statement of Cash Flows (Partial) Year Ended December 31, 2024 No cash investing and Financing Adivities Total Noncanh Investing and Financing Activities 1 More Info a. Issued 1100 shares of $2 par common stock for cash of $18,000 b. Issued 5 300 shares of 52 par common stock for a building with a fair market value of $97.000 c. Purchased new truck with a fair market value of $32,000. Financed it 100% with a long-term note. d. Retired short-term notes of $20,000 by issuing 2,400 shares of $2 par common stock. e. Paid long-term note of $8,500 to Bank of Tallahassee. Issued new long-term note of $25,000 to Bank of Trust Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Lessons Learned On The Audit Trail

Authors: Richard F.Chambers, CIA, QIAL, CGAP, CCSA, CRMA

1st Edition

0894139037, 978-0894139031

More Books

Students also viewed these Accounting questions