Question

Pandora Company paid $40,000 cash to purchase land from Donnelley Company. Donnelley originally paid $40,000 for the land.

Required
a. Was this event an asset source, use, or exchange transaction for Pandora Company?
b. Was this event an asset source, use, or exchange transaction for Donnelley Company?
c. Was the cash flow an operating, investing, or financing activity on Pandora Company’s 2014 statement of cash flows?
d. Was the cash flow an operating, investing, or financing activity on Donnelley Company’s 2014 statement of cash flows?



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  • CreatedMay 22, 2014
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