Question: On January 1 , Year 2 , MicroChips Incorporated had a balance of $ 4 7 0 , 0 0 0 in its buildings account.

On January 1, Year 2, MicroChips Incorporated had a balance of $470,000 in its buildings account. During Year 2, the company sold
buildings that had cost $220,500 for $275,000 cash. The balance in the buildings account on December 31, Year 2, was $282,000.
Required:
a. Determine the cash outflow for the purchase of buildings during Year 2.
b. Prepare the investing activities section of the Year 2 statement of cash flows.
Complete this question by entering your answers in the tabs below.
Determine the cash outflow for the purchase of buildings during Year 2.
On January 1, Year 2, MicroChips Incorporated had a balance of

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