16.2 #6 chegg Study | G? Broward College (E) Course Schedule ® Homepage-M ^ ?. C

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16.2

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chegg Study | G? Broward College (E) Course Schedule ® Homepage-M ^ ?. Cengage ?,' CengageNO. × 0: Outlook.com.h ? ? ? ? v2.cengagenow com im take ssignment takeAssignment Man.do? voker-assan ments&takeAssignmentsessio; Locator-assignment tm ? ? ? Ch 16-2 Practice Exercises eBook Show Me How Calculator Print item Land Transactions on the Statement of Cash Flows 1. PE.16-01A 213,000 for Cameron Corporation purchased land for s506,000. Later in the year, the company sold a different piece of land with a book value of $194,000 2. PE.16-01B How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop down menu and leave the amount box blank 3. PE.16-02.ALGO 4. PE. 16-03.ALGO Action Transactions Gain or loss on sale of land Cash received from sale of land Amount 5. PE.16-04.ALGO 6. PE.16-05.ALGO Cash paid for purchase of land Check My Work 2 more Check My Work uses remalning Previous Progress: 6/6 items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading Type here to search 12:35 AMM 4/7/2018 21

Explanation / Answer

Transactions Action Amount Gain or loss on sale of land Added to net income $19,000 Cash received from sale of land Part of cash flows from investing activities $194,000 Cash paid for purchase of land Part of cash flows from investing activities -$506,000

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