Question
Land Transactions on the Statement of Cash Flows Cameron Corporation purchased land for $210,000. Later in the year, the company sold a different piece of
Land Transactions on the Statement of Cash Flows
Cameron Corporation purchased land for $210,000. Later in the year, the company sold a different piece of land with a book value of $92,000 for $103,000.
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 | $fill in the blank 2 | |
| Cash received from sale of land | $fill in the blank 4 | |
| Cash paid for purchase of land | $fill in the blank 6 |
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Fundamental Accounting Principles
Authors: John Wild, Ken Shaw, Barbara Chiappetta
22nd edition
9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275
