Business, 24.06.2020 02:01 cibitoye8627
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
Jan. 1 Balance 885,000
Mar. 12 Purchased for cash 274,000 1,159,000
Oct. 4 Sold fo $151,000 129,000 1,030,000
Item Section of Statement of Cash Flows Added or Deducted Amount
Mar. 12: Purchase of fixed asset $
Oct. 4: Sale of fixed asset $
Gain on sale of fixed asset (assume the indirect method) $
Statement of Cash Flow:
The statement of cash flow includes the operating, investing, and financing activities sections. The statement combines the changes to the last two balance sheets and the most current income statement to reconcile changes in cash balances between two periods.
Answers: 3
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On the basis of the details of the following fixed asset account, indicate the items to be reported...
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