In Stretch Company, there was an increase in the land account during the year of

Q: In Stretch Company, there was an increase in the land account during the year of

(b)Cash flow from investing activities Purchase of land=($158,000) Sale of Land =$110,000 Cash flow from investing activities=(48,000) So,Answer is option b.We should show both purchase and sale.

ID: 2497309 • Letter: I

Question

In Stretch Company, there was an increase in the land account during the year of $48,000. Analysis reveals that the change resulted form a cash sale of land at cost $110,000, and a cash purchase of land for $158,000. In the statement of cash flows, the change in the land account should be reported in the investment section:

as a net purchase of land, $48,000.

as a purchase of land $158,000 and a sale of land $110,000.

only as a sale of land $110,000.

only as a purchase of land $158,000.

as a net purchase of land, $48,000.

as a purchase of land $158,000 and a sale of land $110,000.

only as a sale of land $110,000.

only as a purchase of land $158,000.

Explanation / Answer

(b)Cash flow from investing activities

Purchase of land=($158,000)

Sale of Land =$110,000

Cash flow from investing activities=(48,000)

So,Answer is option b.We should show both purchase and sale.

Navigate

In Sternberg\'s memory task, Question 5 options: you had one second to recall wh

In Study Design 2, Super Sneaker Company drew at random two groups of 16 high sc

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.

In Stretch Company, there was an increase in the land account during the year of

Question

Explanation / Answer

Related Questions

Navigate