On January 1, 2011, Webber Company had a balance of $278,000 in its Land account. During 2011, Webber sold land that had cost $94,000 for $120,000 cash. The balance in the Land account on December 31, 2011, was $300,000. Required a. Determine the cash outflow for the purchase of land during 2011. b. Prepare the investing activities section of the 2011 statement of cash flows.

On January 1, 2011, Webber Company had a balance of $278,000 in its Land account. During 2011, Webber sold land that had cost $94,000 for $120,000 cash. The balance in the Land account on December 31, 2011, was $300,000. Required a. Determine the cash outflow for the purchase of land during 2011. b. Prepare the investing activities section of the 2011 statement of cash flows.

Name: LO 3Exercise 12-8A Determining cash flow from investing activitiesOn
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Description: LO 3Exercise 12-8A Determining cash flow from investing activitiesOn January 1, 2011, Webber Company had a balance of $278,000 in its Land account. During2011, Webber sold land that had cost $94,000 for $120,000 cash. The balance in the Land account

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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