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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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