Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello

تمرين 42

The only transaction recorded in the plant assets account of Pompei Company in the current year was a $263,000 credit to the Land account. Assuming that this credit resulted from a cash transaction, does this entry indicate a cash receipt or a cash payment? Should this $263,000 appear in the statement of cash flows, or is some adjustment necessary?