On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows:
The reporting statement of fixed asset account is shown. The transactions are listed as follows:
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) $
+3
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: The ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Home » Business » On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: The reporting statement of fixed asset account is shown.