Answer:
a. cash received from sale of land, $200,000.
Explanation:
A statement of cash flows can be described as a financial statement that provides the summary of the amount of cash and cash equivalents that a company receives or pays during a particular period.
A cash flow statement presents how cash and cash equivalents are affected by changes in income and balance sheet accounts by breaking the analysis down to operating, investing, and financing activities.
As it can be seen above, investing activities is one of the three categories of activities that are reported in a statement of cash flows. Investing activities under the statement of cash flows therefore deals with the payments or receipts of cash and cash equivalents for the purchase and sale of long-term assets and other business investments during a particular period.
From the question, the only cash and cash equivalents transaction is the selling of land for $200,000 cash. Therefore, items in the Investing Activities section of the statement of cash flows should include cash received from sale of land, $200,000. The correct option is therefore a. cash received from sale of land, $200,000.
Answer:
$671,300
Explanation:
The calculation of adjusted basis in the building is shown below:-
Adjusted basis = Original cost of the property + Cost of capital improvements - Depreciation claimed
= $750,000 + $50,000 - $128,700
= $800,000 - $128,700
= $671,300
Therefore for computing the adjusted basis we simply add original cost of the property with cost of capital improvements and deduct depreciation claimed.
Nyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy
Answer:
homework sucks, like, really
Explanation:
