on the basis of the details of the following fixed asset account indicate the items 554550
EX 16-13 Reporting land acquisition for cash and mortgage note on statement of cash flows
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows:
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on the basis of the details of the following fixed asset account indicate the items 554550
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ACCOUNT Land |
ACCOUNT NO. |
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|
Balance |
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Date |
Item |
Debit |
Credit |
Debit |
Credit |
|
|
2012 |
||||||
|
Jan. |
1 |
Balance |
195,000 |
|||
|
Feb. |
10 |
Purchased for cash |
307,500 |
502,500 |
||
|
Nov. |
20 |
Purchased with long-term mortgage note |
405,000 |
907,500 |
||
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