Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows 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 Jan. 1 Balance Feb. 10 Purchased for cash Nov. 20 Purchased with long-term mortgage note Item Purchase of land for cash Burchase of land by iecuing Debit Credit 479,700 637,600 Section of Statement of Cash Flows Debit 307,500 787,200 1,424,800 Credit Added or Deducted Amount
Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows 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 Jan. 1 Balance Feb. 10 Purchased for cash Nov. 20 Purchased with long-term mortgage note Item Purchase of land for cash Burchase of land by iecuing Debit Credit 479,700 637,600 Section of Statement of Cash Flows Debit 307,500 787,200 1,424,800 Credit Added or Deducted Amount
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 14.13EX: Reporting land acquisition for cash and mortgage note on statement of cash flows On the basis of the...
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Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows
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.
Date
Item
Print Item
Item
Jan. 1
Balance
Feb. 10
Purchased for cash
Nov. 20 Purchased with long-term mortgage note
Purchase of land for cash
Purchase of land by issuing
long-term mortgage note
Debit
Check My Work 3 more Check My Work uses remaining.
479,700
637,600
Credit
Section of Statement of Cash Flows
Balance
Debit
307,500
787,200
1,424,800
All work saved.
Credit
Added or Deducted
Amount
Previous Next >
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Transcribed Image Text:eBook
Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows
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.
Date
Item
Print Item
Item
Jan. 1
Balance
Feb. 10
Purchased for cash
Nov. 20 Purchased with long-term mortgage note
Purchase of land for cash
Purchase of land by issuing
long-term mortgage note
Debit
Check My Work 3 more Check My Work uses remaining.
479,700
637,600
Credit
Section of Statement of Cash Flows
Balance
Debit
307,500
787,200
1,424,800
All work saved.
Credit
Added or Deducted
Amount
Previous Next >
Save and Exit Submit Assignment for Grading
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