Print Item Cameron Corporation purchased land for $494,000. Later in the year, t

Question

Print Item Cameron Corporation purchased land for $494,000. Later in the year, the company sold a different piece of land with a book value of $306,000 for $266,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash 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 out flows, cash payments, decreases in the amount box blank. Transactions Gain or loss on sale of land Cash reçeived from sale of land Cash paid for purchase of land Action Amount Previous 2 more Check My Work uses re 2-51 AM

Explanation / Answer

Gain on loss on sale of land Add with net income under opertaing activities $      40,000 Cash received from sale of land Cash inflow under investing activities $   266,000 Cash paid for purchase of land Cash outflow under investing activities $ (494,000)

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

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