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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 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?
Explanation
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A cash flow statement includes cash rece...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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