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:
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ACCOUNT Land
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ACCOUNT NO.
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Balance
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Date
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Item
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Debit
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Credit
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Debit
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Credit
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2012
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Jan.
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1
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Balance
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620,000
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Apr.
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6
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Purchased for cash
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74,500
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694,500
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Nov.
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23
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Sold for $68,250
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45,600
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648,900
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