A company purchased equipment for $150,000 by paying $50,000 and signing a $100,000 note payable. The entire transaction is disclosed to users on the statement of cash flows and/or in the notes to the financial statements.

Question

Quizplus · Accepted Answer

The transaction involves both cash payment and signing a note payable, which would be disclosed in the statement of cash flows and/or in the notes to the financial statements.

A Company Purchased Equipment for $150,000 by Paying $50,000 and Signing