On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 319,900 February 10 Purchased for cash 499,000 818,900 November 20 Purchased with long-term mortgage note 663,300 1,482,200 Item Section of Statement of Cash Flows Added or Deducted Amount Purchase of land for cash $fill in the blank 3 Purchase of land by issuinglong-term mortgage note $fill in the blank 6
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 319,900 February 10 Purchased for cash 499,000 818,900 November 20 Purchased with long-term mortgage note 663,300 1,482,200 Item Section of Statement of Cash Flows Added or Deducted Amount Purchase of land for cash $fill in the blank 3 Purchase of land by issuinglong-term mortgage note $fill in the blank 6
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of
| Date | Item | Debit | Credit | Balance Debit |
Balance Credit |
|---|---|---|---|---|---|
| January 1 | Balance | 319,900 | |||
| February 10 | Purchased for cash | 499,000 | 818,900 | ||
| November 20 | Purchased with long-term mortgage note | 663,300 | 1,482,200 |
| Item | Section of Statement of Cash Flows | Added or Deducted | Amount |
|---|---|---|---|
| Purchase of land for cash |
|
|
$fill in the blank 3 |
| Purchase of land by issuing long-term mortgage note |
|
|
$fill in the blank 6 |
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