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Exercise 12-10 reconstructed entries lo p3 for each of the following separate transactions: sold a building costing $37,500, with $23,000 of accumulated depreciation, for $11,000 cash, resulting in a $3,500 loss. acquired machinery worth $13,000 by issuing $13,000 in notes payable. issued 1,300 shares of common stock at par for $2 per share. note payables with a carrying value of $41,500 were retired for $50,000 cash, resulting in a $8,500 loss. (a) prepare the reconstructed journal entry. (b) identify the effect it has, if any, on the investing section or financing section of the statement of cash flows.
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Exercise 12-10 reconstructed entries lo p3 for each of the following separate transactions: sold a...
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