Assume the company purchases land for $1,000,000, paying $ 400,000 cash and borrowing the remainder with long-term notes payable. How should this transaction be reported on a statement of cash flows?

State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following transactions: Note: Only consider the cash component of each transaction. Note: If an item should not be reported, select "Not reported" and leave amount cell blank or enter "0". a.   Received $120,000 from the sale of land costing $70,000. operatin financing investing not reported  $fill in the blank 2     fill in blank $fill in the blank 4 b.   Purchased investments for $75,000. fill in blank $fill in the blank 6 c.   Declared $35,000 cash dividends on stock. Dividends of $5,000 were payable at the beginning of the year, and $6,000 were payable at the end of the year. fill in blank $fill in the blank 8 d.   Acquired equipment for $64,000 cash. fill in blank $fill in the blank 10 e.   Declared and issued 100 shares of $20 par common stock as…

Using the indirect method, calculate the amount of cash flows from operating activities from the following data. Net income $150,000 Beginning accounts receivable 20,000 Ending accounts receivable 25,000 Beginning prepaid insurance 5,000 Ending prepaid insurance 2,000 Beginning accounts payable 15,000 Ending accounts payable 12,000 Depreciation expense 50,000 Amortization of intangible asset 6,000 Dividends declared and paid 11,000 Cash flows from operating activities $ %24

18. When using the indirect method to prepare the operating section of a statement of cash flows, which of the following is deducted from net income to compute cash provided by/used by operating activities? Decrease in accounts receivable. Gain on sale of land. Amortization of patent. All of these are deducted from net income to arrive at cash flow from operating activities.