Croft Company sold land costing $10,000 for $12,000. In the investing activities section of the statement of cash flows, the company will report:Multiple ChoiceAn outflow of $12,000An inflow of $2,000An inflow of $12,000An outflow of $10,000

organ Farms purchases land for $250,000 cash and paid legal fees of $1,000 to complete the transaction. The company has the land graded for $3,700. What amount does Morgan Farms record as the cost for the land?Select answer from the options below$253,700$251,000$252,700$254,700

Merchant Company purchased land for a building site. The costs associated with the property were: Purchase price $ 182,000Real estate commissions 15,700Legal fees 1,500Expenses of clearing the land 2,700What is the total recorded cost of the land?Multiple Choice$201,900$182,000$185,500$199,200$197,700

On 1 July 2022 Tiger Ltd acquired 20,000 shares in Island Ltd at a price of $5 each. There were brokerage fees of $3,000. The closing market price of Island Ltd on 30 June 2023 – which is the entity’s financial year end – was $7. Tiger Ltd has not make the election to account for its equity investments at fair value through OCI. Required:Provide the accounting journal entries for Tiger Ltd to account for the investment in Island Ltd when making the investments.

A company purchased land for P4,500,000 cash. Real estate brokers' commission was P250,000 and P350,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land would be recorded at

Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $ 85,900Depreciation expense 12,600Gain on sale of land 8,100Increase in merchandise inventory 2,650Increase in accounts payable 6,750Multiple Choice$14,200.$37,700.$94,500.$13,200.$29,600.