Page 1 of 1
On July 15, 2021, M.W. Morgan Distribution sold land for $32.0 million that it had purchased in 2016 for $27.0 million.
Posted: Sat May 07, 2022 7:40 pm
by answerhappygod
- On July 15 2021 M W Morgan Distribution Sold Land For 32 0 Million That It Had Purchased In 2016 For 27 0 Million 1 (57.18 KiB) Viewed 35 times
On July 15, 2021, M.W. Morgan Distribution sold land for $32.0 million that it had purchased in 2016 for $27.0 million. Required: What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the direct method? The indirect method? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Direct Method Indirect Method What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2021, using the indirect method? (List any cash outflows with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) ($ in millions) Cash inflow from investing activities $ 32.0 Cash outflow from operating activities 5.0 xls