eBook Print Item Reporting Land Transactions on Statement of Cash Flows On the b

Question

eBook Print Item Reporting Land Transactions on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Mar. 12 Purchased for cash 284,000 Oct. Sold for $155,000 836,000 1,120,000 133,000 987,000 Section of Statement of Cash Flows Item Added or Deducted Amount Mar. 12: Purchase of fixed asset Oct. 4: Sale of fixed asset Check My Work 2 more Check My Work uses remaining

Explanation / Answer

Item section of statement of cash flows Added or deducted Amount Mar.12 . Purchase of fixed assets Cash flow from investing Activities Deducted 284000$ Oct.4. Sale of fixed Assets Cash flow from investing Activities Added 155000$ Gain on sale of fixed Assets Cash flow from operating Activities Deduted 22000$

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