Mountain water corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. in what section(s) would these transactions be recorded?

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asked Dec 17, 2019 75.3k views

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Nomaam · Answer 1 · 2019-12-23T18:41:07+0000

These transactions would be recorded in the non-cash investing and financing activities. Since this that does not directly affect the cash on hand, instead, the issuance of common stock to retire long-term debt is done.

Mountain water corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. in what section(s) would these transactions be recorded?

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Mountain water corp. issued common stock of​ $28,000 to pay off​ long-term notes payable of ​$28,000. in what​ section(s) would these transactions be​ recorded?

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Mountain water corp. issued common stock of $28,000 to pay off long-term notes payable of $28,000. in what section(s) would these transactions be recorded?