15. BE. 13-05 ALGO (Algorithmic) Land Transactions on the Statement of Cash Flo

Question

15. BE. 13-05 ALGO (Algorithmic) Land Transactions on the Statement of Cash Flo Cameron Corporation purchased land for $525,000 Later in the year, the company sold adiferen birceof and rita tokauer nsoo tr a How are the effects of these transactions reported on the statement of cash flows assuming the indirect method is used? Use the minus sign to indicate cash out flows, cash pay ments, de adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop Transactions Action Gain or loss on sale of land Cash received from sale of land Cash paid for purchase of land 12/21/2017 0 Type here to search

Explanation / Answer

Transactions Action Amount Gain or loss on sale of land Added to net income $41,000 Cash received from sale of land Part of cash flows from investing activities $274,000 Cash paid for purchase of land Part of cash flows from investing activities -$525,000

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