In 2014, Abbotsford Inc. issued 1,000 common shares for land worth $149,000. (a) Prepare Abbotsford's journal entry

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In 2014, Abbotsford Inc. issued 1,000 common shares for land worth $149,000.
(a) Prepare Abbotsford's journal entry to record the transaction.
(b) Indicate the effect that the transaction has on cash.
(c) Indicate how the transaction is reported on the statement of cash flows.
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Intermediate Accounting

ISBN: 978-1118300855

10th Canadian Edition Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

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