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Wells Fargo & Company had the following transactions in June 2030: Issued 1,760,000 shares of common stock for $1,760 per share. Purchased equipment for $680,000,000,

Wells Fargo & Company had the following transactions in June 2030:

  • Issued 1,760,000 shares of common stock for $1,760 per share.
  • Purchased equipment for $680,000,000, paying $272,800,000 in cash and signing a note for the balance.
  • Declared and paid dividends of $74,050,000.

Record the journal entries for these transactions and show how they would affect the cash flow statement.

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