Question
Procter & Gamble Co. had the following transactions in July 2027: Issued 1,060,000 shares of common stock for $1,060 per share. Purchased land for $330,000,000,
Procter & Gamble Co. had the following transactions in July 2027:
- Issued 1,060,000 shares of common stock for $1,060 per share.
- Purchased land for $330,000,000, paying $132,000,000 in cash and signing a note for the balance.
- Declared and paid dividends of $39,000,000.
Record the journal entries for these transactions and show how they would affect the cash flow statement.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
