Reporting Land Transactions 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 Debit Credit Debit Credit Jan. 1 1,238,000 Mar. 12 Balance Purchased for cash Sold for $231,000 421,000 1,659,000 Oct. 4 198,000 1,461,000 Item Section of Statement of Cash Flows Added or Deducted Mar. 12: Purchase of fixed asset Amount Oct. 4: Sale of fixed asset Gain on sale of fixed asset (assume the indirect method) Financing activities section Investing activities section Operating activities section Not on statement Previous Next Cowa Reporting Land Transactions 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 Debit Credit Debit Credit Jan. 1 Balance 1,238,000 Mar. 12 Purchased for cash 421,000 1,659,000 Oct. 4 Sold for $231,000 198,000 1,461,000 Item Section of Statement of Cash Flows Added or Deducted Mar. 12: Purchase of fixed asset Amount Oct. 4: Sale of fixed asset Gain on sale of fixed asset (assume the indirect method) Financing activities Section Investing activities section Operating activities section Not on statement Previous N Reporting Land Transactions 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 rows ACCOUNT Land ACCOUNT NO Date Balance Item Debit Credit Jan Debit 1 Balance Credit Mar 12 Purchased for cash Sold for $231,000 421,000 1,238,000 1,659,000 1,461,000 Oct. 4 198,000 Item Section of Statement of Cash Flows Mar. 12: Purchase of fixed asset Added or Deducted Amount Oct. 4: Sale of fixed asset Gain on sale of fixed asset (assume the indirect method) Financing activities section Investing activities section Operating activities section Not on statement Previous Next Reporting Land Transactions 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 Debit Credit Debit Credit Jan 1 1,238,000 Mar. 12 Balance Purchased for cash Sold for $231,000 421,000 1,659,000 Oct. 4 198,000 1,461,000 Item Section of Statement of Cash Flows Added or Deducted Amount Mar. 12Purchase of fixed asset Oct. 4. Sale of fixed asset Added Gain on sale of fixed asset (assume the indirect method) Deducted Not applicable Previous