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Verizon Communications Inc. had the following transactions in September 2028: Issued 1,340,000 shares of common stock for $1,340 per share. Purchased land for $470,000,000, paying
Verizon Communications Inc. had the following transactions in September 2028:
- Issued 1,340,000 shares of common stock for $1,340 per share.
- Purchased land for $470,000,000, paying $188,000,000 in cash and signing a note for the balance.
- Declared and paid dividends of $53,000,000.
Record the journal entries for these transactions and show how they would affect the cash flow statement.
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