ACCOUNT Land ACCOUNT NO. Balance Credit Debit Debit Credit Date Item Balance 156,000 Jan. Feb. Purchased for cash 10 246,000 402,000 Purchased with long-term Nov. 20 324,000 726,000 mortgage note

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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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
Credit
Debit
Debit
Credit
Date
Item
Balance
156,000
Jan.
Feb.
Purchased for cash
10
246,000
402,000
Purchased with long-term
Nov.
20
324,000
726,000
mortgage note
Transcribed Image Text:ACCOUNT Land ACCOUNT NO. Balance Credit Debit Debit Credit Date Item Balance 156,000 Jan. Feb. Purchased for cash 10 246,000 402,000 Purchased with long-term Nov. 20 324,000 726,000 mortgage note
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