Determining cash flow from investing activities On January 1, 2011, Oswalt Company had a balance of $156,000
Question:
Determining cash flow from investing activities On January 1, 2011, Oswalt Company had a balance of $156,000 in its Land account. During 2011, Oswalt sold land that had cost $66,000 for $98,000 cash. The balance in the Land account on December 31, 2011, was $220,000.
Required
a. Determine the cash outflow for the purchase of land during 2011.
b. Prepare the investing activities section of the 2011 statement of cash flows.
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a Reconciliation of Land Account Beginning balance 156000 Increase due to purchasing land 130000 ...View the full answer
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Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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