Question

Show Me How Calculator Printem Land Transactions on the Statement of Cash Flows Cameron Corporation purchased land for $528,000. Later in the year, the company sold a different piece of land with a book value of $216,000 for $242,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash outflows, 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, Transactions Action Amount Gain or loss on sale of land Cash received from sale of land Cash paid for purchase of land Check My Work 2 more Check My Work uses remaining < Previous All work saved. Email Instructor Save and Exit Submit Assignment for Grading

Answer 1

Solution-1
Transaction	Action	Amount
Gain or Loss on Sale of Land	Reduced from Cash Flow from Operatign Activity	-$26,000.00
Cash Received from sale of Land	Increase in Cash Flow from Investing Activity	$242,000.00
Cash Paid for Purchase of Land	Decrease in Cash Flow from Investing Activity	-$528,000.00

Staley Inc.
Statement of Cash Flow
Cash Flow from Operating Activitiees
Net Income		$254,500.00
Adjustment to reconcile net Income to net cash flow from operating activities
Depreciation Expense	$76,500.00
Loss on Disposal of Equipment	$39,400.00
Change in Current Operating Asset and Liabilities
Increase in Account Receivable	-$28,600.00
Increase in Account Payable	$12,200.00	$99,500.00
Cash Generated from Operating activity		$354,000.00