U LI ETUW.CUIT Reassignment/takeAssignment Main.do?invokerStake AssignmentSession Locator &inprogressefalse Ch 16-3 Exercises and Problems cBook Calculator Print Item Reporting Land Transactions on Statement of Cash Flows Debit 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 Credit Jan. 1 Balance 1,050,000 Mar. 12 Purchased for cash 346,000 1,396,000 Oct. 4 Sold for $190,000 163,000 1,233,000 Item Section of Statement of Cash Flows Added or Deducted Amount Mar. 12: Purchase of fixed asset Oct. 4: Sale of fixed asset Gain on sale of fixed asset (assume the indirect method) Type here to search