cements - A S ACC 201 Role of Acc X * CengageNOWv2 |0 difference in artist m. types of financial trai ow.com aakesinnentSessionLocator=&inprogress=false eBook Show Me How Land Transactions on the Statement of Cash Flows IZ Corporation purchased land for $500,000. Later in the year, the company sold a different piece of land with a book value of $250,000 for $280,000. How are the effects of these transactions reported on the statement of cash flows assuming the indirect method is used? Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop down menu and leave the amount box blank. Transactions Action Amount Gain on sale of land Deducted from net income Cash received from sale of land Part of cash flows from investing activities Cash paid for purchase of land Part of cash flows from investing activities Feedback Y Check My Work Property, plant, and equipment are considered noncurrent assets. Recall the definitions of each section of an affect would a gain or loss have on the statement of cash flows? the statement of cash flows. What type Previous Check My Work 6:27 F 4/19/20
cements - A S ACC 201 Role of Acc X * CengageNOWv2 |0 difference in artist m. types of financial trai ow.com aakesinnentSessionLocator=&inprogress=false eBook Show Me How Land Transactions on the Statement of Cash Flows IZ Corporation purchased land for $500,000. Later in the year, the company sold a different piece of land with a book value of $250,000 for $280,000. How are the effects of these transactions reported on the statement of cash flows assuming the indirect method is used? Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop down menu and leave the amount box blank. Transactions Action Amount Gain on sale of land Deducted from net income Cash received from sale of land Part of cash flows from investing activities Cash paid for purchase of land Part of cash flows from investing activities Feedback Y Check My Work Property, plant, and equipment are considered noncurrent assets. Recall the definitions of each section of an affect would a gain or loss have on the statement of cash flows? the statement of cash flows. What type Previous Check My Work 6:27 F 4/19/20
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets
Section19.6: Buying Intangible Assets And Calculating Amortization Expense
Problem 1OYO
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Transcribed Image Text:cements - AC
ACC 201 Role of Accx
CengageNOWv2 | O
Q difference in artist ma
types of financial tran x
Mandonka
ow.com
lakeAssignmentSessionLocator=&inprogress=false
eBook
S Show Me How
Land Transactions on the Statement of Cash Flows
IZ Corporation purchased land for $500,000. Later in the year, the company sold a different piece of land with a book value of $250,000 for $280,000.
How are the effects of these transactions reported on the statement of cash flows assuming the indirect method is used? Use the minus sign to indicate
cash outflowS, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select
"No effect" from the drop down menu and leave the amount box blank.
Transactions
Action
Amount
Gain on sale of land
Deducted from net income
Cash received from sale of land Part of cash flows from investing activities
Cash paid for purchase of land
Part of cash flows from investing actlvities
Feedback
Check My Work
Property, plant, and equipment are considered noncurrent assets. Recall the definitions of each section of the statement of cash flows. What type
of an affect would a gain or loss have on the statement of cash flows?
Previous
Check My Work
6:27 P
4/19/202
%24
%24
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