Business, 17.06.2020 22:57 NobleWho

On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: The reporting statement of fixed asset account is shown. The transactions are listed as follows:

Date Item Debit Credit Debit Credit
Jan. 1 Balance 885,000
Mar. 12 Purchased for cash 274,000 1,159,000
Oct. 4 Sold fo $151,000 129,000 1,030,000

Item Section of Statement of Cash Flows Added or Deducted Amount
Mar. 12: Purchase of fixed asset $
Oct. 4: Sale of fixed asset $
Gain on sale of fixed asset (assume the indirect method) $

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On the basis of the details of the following fixed asset account, indicate the items to be reported...

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