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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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