Kingston Company settled a long-term note payable it owed to Creative Company by issuing capital stock. Kingston
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Question:
Kingston Company settled a long-term note payable it owed to Creative Company by issuing capital stock. Kingston would report this
a. In the schedule of noncash investing and financing transactions.
b. Only as a cash outflow from financing activity for the payment of the debt.
c. Only as a cash inflow from financing activity for the issuance of the capital stock.
d. As both a cash flow from investing activity and a cash flow from financing activity.
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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