Alpha Corporation purchased land for 174000 Later in the yea

Alpha Corporation purchased land for $174,000. Later in the year, the company sold a different piece of land with a book value of $92,000 for $82,000.

How are the effects of these transactions reported on the statement of cash flows assuming the indirect method is used? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select \"No effect\" from the drop down menu and leave the amount box blank.

TransactionsActionAmount

Gain or loss on sale of land Action: $

Cash received from sale of land Action: $

Cash paid for purchase of land Action: $

Effect of transaction :

Transaction	activity	Amount
Gain or loss on sale of land Action	Cash flow from operating activities	10000
Cash received from sale of land Action	Cash flow from investing activities	82000
Cash paid for purchase of land Action	Cash flow from investing activities	-174000

Alpha Corporation purchased land for $174,000. Later in the year, the company sold a different piece of land with a book value of $92,000 for $82,000. How are t

Alpha Corporation purchased land for 174000 Later in the yea

Solution

Get Help Now

Submit a Take Down Notice