Question
IBM Corporation had the following transactions in January 2024: Issued 135,000 shares of common stock for $200 per share. Purchased land for $4,500,000, paying $1,600,000
IBM Corporation had the following transactions in January 2024:
- Issued 135,000 shares of common stock for $200 per share.
- Purchased land for $4,500,000, paying $1,600,000 in cash and signing a note for the balance.
- Declared and paid dividends of $1,350,000.
Record the journal entries for these transactions and show how they would affect the cash flow statement.
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Accounting Volume 1
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian edition
978-013309863, 9780133128338, 013309863X, 133128334, 978-0132690096
