Kingston Company settled a long-term note payable it owed to Creative Company by issuing capital stock. Kingston would report this in the schedule of noncash investing and financing transactions. only as a cash outflow from financing activity for the payment of the debt. only as a cash inflow from financing activity for the issuance of the capital stock. as both a cash flow from investing activity and a cash flow from financing activity. Solution There was no \"Cash\" involved so the answer is C. .

1. Kingston Company settled a long-term note payable it owed to Creative Company by issuing
capital stock. Kingston would report this
in the schedule of noncash investing and financing transactions.
only as a cash outflow from financing activity for the payment of the debt.
only as a cash inflow from financing activity for the issuance of the capital stock.
as both a cash flow from investing activity and a cash flow from financing activity.
a. in the schedule of noncash investing and financing transactions.
b. only as a cash outflow from financing activity for the payment of the debt.
c. only as a cash inflow from financing activity for the issuance of the capital stock.
d. as both a cash flow from investing activity and a cash flow from financing activity.
Solution
There was no "Cash" involved so the answer is C.