Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:

-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for Land in Lester Corporation's balance sheet at December 31, Year 2.
A) $250,000.
B) $350,000.
C) $290,000.
D) Some other amount.

Question

Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
 
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for Land in Lester Corporation's balance sheet at December 31, Year 2.
A) $250,000. 
B) $350,000. 
C) $290,000. 
D) Some other amount.

Quizplus · Accepted Answer

The Answer of Lester Corporation's statement of cash flows for Year 2 shows the following investing activities:
 
-Refer to the above data. Lester's balance sheet at the end of Year 1 showed Land of $100,000. On the basis of the data presented above, compute the amount to be reported for Land in Lester Corporation's balance sheet at December 31, Year 2.
A) $250,000. 
B) $350,000. 
C) $290,000. 
D) Some other amount.

Lester Corporation's Statement of Cash Flows for Year 2 Shows