Warren Industries acquired a $1,500,000 building by issuing a $1,500,000 note payable due to the Community Bank.
a. In terms of cash flow reporting, what type of transaction is this?
b. What special disclosure is required for this transaction?

Question

Warren Industries acquired a $1,500,000 building by issuing a $1,500,000 note payable due to the Community Bank. 
a. In terms of cash flow reporting, what type of transaction is this?
b. What special disclosure is required for this transaction?

Quizplus · Accepted Answer

The Answer of Warren Industries acquired a $1,500,000 building by issuing a $1,500,000 note payable due to the Community Bank. 
a. In terms of cash flow reporting, what type of transaction is this?
b. What special disclosure is required for this transaction?

Warren Industries Acquired a $1,500,000 Building by Issuing a $1,500,000