Reporting land transactions on statement of cash flows

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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

2012







Jan.

1

Balance



620,000


Apr.

6

Purchased for cash

74,500


694,500


Nov.

23

Sold for $68,250


45,600

648,900


 

Reference no: EM13534223

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