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A company acquired some land independently appraised at

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A company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 shares of its common stock (par $10 per share; no market price was quoted). How should this be reported on the statement of cash flows?


A. Report $12,000 as inflow and outflow of cash.

B. Report $12,000 as an inflow of cash.

C. Should not be reported on the statement of cash flows.

D. Report in the schedule of significant noncash transactions.

 

Reference no: EM13583674

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