Arturo Sales purchased some equipment for $12,000 by issuing a 6-month note payable. Because this was a noncash transaction, it would not be shown in the main body of the statement of cash flows, but in a separate section for noncash investing and financing activities.

Question

Quizplus · Accepted Answer

Noncash transactions, such as the issuance of a note payable, would be shown in the separate section for noncash investing and financing activities in the statement of cash flows.

Arturo Sales Purchased Some Equipment for $12,000 by Issuing a 6-Month