EXERCISE 12-8B

Exercise 12-8B Determining cash flow from investing activities On January 1, Year 1, Poole Company had a balance of $178.000 in its Land account. During Year I, Poole sold land that had cost $71,000 for $95,000 cash. The balance in the Land account on December 31, Year 1, was $210,000. Required a. Determine the cash outflow for the purchase of land during Year 1 . b. Prepare the investing activities section of the Year 1 statement of cash flows. Exercise 12-8B Determining cash flow from investing activities On January 1, Year I, Poole Company had a balance of $178,000 in its Land account. During Year I. Poole sold land that had cost $71,000 for $95,000cash. The balance in the Land account on December 31, Year 1, was $210,000. Required a. Determine the cash outflow for the purchase of land during Year 1. b. Prepare the investing activities section of the Year I statement of cash flows. Exercise 12-8B Determining cash flow from investing activities On January 1, Year 1, Poole Company had a balance of $178,000 in its Land account. During Year I. Poole sold land that had cost $71,000 for $95,000 cash. The balance in the Land account on December 31 , Year 1 , was $210,000. Required a. Determine the cash outflow for the purchase of land during Year 1 . b. Prepare the investing activities section of the Year 1 statement of cash flows. Exercise 12-8B Determining cash flow from investing activities On January 1, Year 1, Poole Company had a balance of $178,000 in its Land account. During Year I, Poole sold land that had cost $71,000 for $95,000 cash. The balance in the Land account on December 31. Year I, was $210.000. Required a. Determine the cash outflow for the purchase of land during Year 1 . b. Prepare the investing activities section of the Year 1 statement of cash flows. Exercise 8B: A. B. Exercise 8B: A. B