on the comparative balance sheets: LAND previous year : 60 million current year: 78 million * purchase of land for 28 million *sold portion of land was sold for 14 million in cash. This land was originally purchased in a previous year for 10 million; therefore a gain on the sale of land of 4 million. How is this information supposed to be entered on the Statement of cash Flows?
on the comparative balance sheets: LAND previous year : 60 million current year: 78 million * purchase of land for 28 million *sold portion of land was sold for 14 million in cash. This land was originally purchased in a previous year for 10 million; therefore a gain on the sale of land of 4 million. How is this information supposed to be entered on the Statement of cash Flows?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 5BE: Land transactions on the statement of cash flows IZ Corporation purchased land for 500,000. Later in...
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on the comparative balance sheets:
LAND previous year : 60 million current year: 78 million
* purchase of land for 28 million
*sold portion of land was sold for 14 million in cash. This land was originally purchased in a previous year for 10 million; therefore a gain on the sale of land of 4 million.
How is this information supposed to be entered on the Statement of cash Flows?
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