Crown Point Limited reports the following noncash transactions: 1. Recorded an impairment loss on goodwill 2. Recorded

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Crown Point Limited reports the following noncash transactions:
1. Recorded an impairment loss on goodwill
2. Recorded depreciation expense
3. Recorded an unrealized gain on a trading investment carried at fair value through profit or loss
4. Purchased a new vehicle by signing a bank loan payable
5. Declared and distributed a stock dividend
6.
Effected a 2-for-1 stock split
7. Converted an account receivable to a note receivable
8. Acquired equipment by issuing common shares
Instructions
For each of the above transactions, explain why it does not involve cash and where it should be reported, if at all, on the statement of cash flows or accompanying notes?
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For  answer-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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