1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
alexandr1967 [171]
3 years ago
9

On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flo

ws:
ACCOUNT Land ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
Jan. 1 Balance 885,000
Mar. 12 Purchased for cash 274,000 1,159,000
Oct. 4 Sold fo $151,000 129,000 1,030,000
Item Section of Statement of Cash Flows Added or Deducted Amount
Mar. 12: Purchase of fixed asset $
Oct. 4: Sale of fixed asset $
Gain on sale of fixed asset (assume the indirect method) $
Statement of Cash Flow:
The statement of cash flow includes the operating, investing, and financing activities sections. The statement combines the changes to the last two balance sheets and the most current income statement to reconcile changes in cash balances between two periods.
Business
1 answer:
iragen [17]3 years ago
8 0

Answer:

Flows Added

Oct. 4: Proceeds from Sale of fixed asset $151,000

Oct. 4: Gain on sale of fixed asset <em> </em>$22,000

Flows Deducted

Mar. 12: Purchase of fixed asset $274,000

Explanation:

The Cash flow statement is prepared under the following headings :

  1. Cash flow from operating activities
  2. Cash flow from investing activities
  3. Cash flow from financing activities

Therefore form the transactions we need to establish what amount fall in which category.

Here is an extract of the Cash flow statement based on the given data

Cash flow from Operating Activities

<em>Adjustment to non-cash items </em>

Gain on sale of asset<em> </em>($151,000 - $129,000) <em>    </em>$22,000

Cash flow from Investing Activities

Purchase of Asset                                             ($274,000)

Proceeds from sale of Asset                              $151,000

Cash flow from Financing Activities

You might be interested in
A legal firm would be considered a
Serjik [45]
A legal firm would be considered a service company because they provide legal services to clients and persons.
4 0
3 years ago
Read 2 more answers
How can you attract whole sale seller​
Kay [80]

Answer:

10 ways to increase your wholesale sales

1. Offer specials that bring retailers better-than-wholesale prices.

2.Provide outstanding customer service.

3.Make wholesale ordering, delivery, and billing as seamless as possible.

4 Streamline your operations.

5.Make order recommendations.

6.Create compelling, eye-catching campaigns.

and if you need more answer than please follow me

hope it's helpful

thank you

and follow me

6 0
3 years ago
An individual's ecological footprint is equivalent to the:
makkiz [27]

Answer: option D is correct

Explanation:

This is the biologically productive land that can sustain the individuals activities. It takes into account resources needed to produce goods and clean up it's waste.

7 0
3 years ago
In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one year bank loan with a debit to
OleMash [197]

In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one-year bank loan with a debit to cash and a credit to interest revenue. The most effective method for detecting this type of error is to Send a bank confirmation as of year-end.

A business may additionally have sales in a given time period that includes invoices they have got sent out to customers, in addition to coins bills that have been made at the time of a buy. All of these incomes are included as revenue during that term.

Sales are described as the profits generated through a commercial enterprise' number one operations. Its miles are often known as the “pinnacle line” and are proven at the top of an earnings announcement. internet income is an accounting time period that refers to the entire revenue minus the entire costs for any given length.

Learn  more about revenue here brainly.com/question/16232387

#SPJ4

7 0
11 months ago
A company's skills are functions—such as customer service and promotions—that the firm performs better than its competitors
Tasya [4]

Answer:

Here the given statement is true.

Explanation:

The given above statement is true , customer service and promotions are recognized as a company's skill set , which if a company would perform better than its competitors than it would be able to attract more customer base and even retain its target audience. Customer service skills are really important for every company as these skills helps in increasing its target consumers and retain them by addressing the customers redressal, fulfilling their needs and wants and improving their experience.

8 0
3 years ago
Read 2 more answers
Other questions:
  • The owner of Fido's Pet Supplies wants to know how much dry dog food to stock in her new location. On her customer questionnaire
    6·1 answer
  • Why must we always boil our drinking water during and after a cyclone has passed ​
    15·1 answer
  • Genna Raiter, the president and CEO of Car Keepers Garage, has asked several of her managers and employees to help establish a s
    7·1 answer
  • Looking to invest in his first pair of leather dress shoes, Sean is deciding between some Alden slip-ons and some Allen Edmonds
    8·1 answer
  • The current price for a good is ​$25​, and 100 units are demanded at that price. The price elasticity of demand for the good is
    15·1 answer
  • A publisher for a promising new novel figures fixed costs​ (overhead, advances,​ promotion, copy​ editing, typesetting, and so​
    5·1 answer
  • Anyone got a link i can join and we can chat
    5·1 answer
  • When transportation costs are added to production costs, it becomes unprofitable to ship some products over a large distance. Th
    13·1 answer
  • Features, Advantages and disadvantages free market economy?
    14·1 answer
  • i made a bet with my friend that he couldnt swallow an egg full, hes laying on the ground now what do i do
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!