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At what amount should land be debited

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Question 1 - Given the amounts below, calculate the Total Cash from (for) Investing Activities on the Statement of Cash Flows.

Cash Collected from Customers $700,000

Issuance of Stock $120,000

Purchase of Equipment $35,000

Proceeds from Sale of Land $60,000

Question 2 - Lumpsum, Inc., purchased land and two buildings at a total cost of $28,000. The appraised value for each item is as follows:

Land $12,000

Building 1 $10,000

Building 2 $18,000

At what amount should Land be debited?

Reference no: EM132565958

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