A company purchases land for $100,000, paying $20,000 cash and borrowing the remainder on a long-term note

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A company purchases land for $100,000, paying $20,000 cash and borrowing the remainder on a long-term note payable. How should this transaction be reported on a statement of cash flows?

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Fundamental Accounting Principles Volume II

ISBN: 978-1259066511

14th Canadian Edition

Authors: Larson Kermit, Jensen Tilly

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Question Posted: Jan 08, 2015 09:03 AM

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A company purchases land for $100,000, paying $20,000 cash and borrowing the remainder on a long-term note

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The amount of the land purchase that was paid for in cash 20000 should b...View the full answer

Fundamental Accounting Principles Volume II

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