On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 319,900 February 10 Purchased for cash 499,000 818,900 November 20 Purchased with long-term mortgage note 663,300 1,482,200 Item Section of Statement of Cash Flows Added or Deducted Amount Purchase of land for cash $fill in the blank 3 Purchase of land by issuinglong-term mortgage note $fill in the blank 6
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 319,900 February 10 Purchased for cash 499,000 818,900 November 20 Purchased with long-term mortgage note 663,300 1,482,200 Item Section of Statement of Cash Flows Added or Deducted Amount Purchase of land for cash $fill in the blank 3 Purchase of land by issuinglong-term mortgage note $fill in the blank 6
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.10E
Related questions
Question
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows:
Date | Item | Debit | Credit | Balance Debit |
Balance Credit |
---|---|---|---|---|---|
January 1 | Balance | 319,900 | |||
February 10 | Purchased for cash | 499,000 | 818,900 | ||
November 20 | Purchased with long-term mortgage note | 663,300 | 1,482,200 |
Item | Section of Statement of Cash Flows | Added or Deducted | Amount |
---|---|---|---|
Purchase of land for cash |
|
|
$fill in the blank 3 |
Purchase of land by issuing long-term mortgage note |
|
|
$fill in the blank 6 |
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