Question
and Transactions on the Statement of Cash Flows Alpha Corporation purchased land for $166,000. Later in the year, the company sold a different piece of
and Transactions on the Statement of Cash Flows
Alpha Corporation purchased land for $166,000. Later in the year, the company sold a different piece of land with a book value of $90,000 for $102,000.
How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop down menu and leave the amount box blank.
| Transactions | Action | Amount |
| Gain or loss on sale of land | Part of cash flows from investing activities | $ |
| Cash received from sale of land | Added to net income | $ |
| Cash paid for purchase of land | Part of cash flows from financing activities | $ |
Feedback
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Primary Science Audit And Test
Authors: Jenny Byrne, Andri Christodoulou, John Sharp
4th Edition
1446282732, 978-1446282731
