Balance sheet data for Kilroy Company for 2022 appears below: January_1,_2022 December31,_2022 ASSETS Cash Accounts...

60.1K

Verified Solution

Question

Accounting

image

Balance sheet data for Kilroy Company for 2022 appears below: January_1,_2022 December31,_2022 ASSETS Cash Accounts receivable Inventory Land 22,000 63,000 78,000 56,000 33,000 51,000 89,000 71,000 LIABILITIES + EQUITY Accounts payable Income taxes payable Notes payable Common stock Retained earnings 33,000 17,000 79,000 61,000 29,000 24,000 26,000 67,000 84,000 43,000 Kilroy Company's 2022 income statement is given below: Sales revenue Cost of goods sold Loss on sale of land Income tax expense Net income 246,000 195,000 16,000 14,000 21,000 Kilroy Company purchased land for $69,000 cash in 2022. Calculate the amount of cash received from the sale of land reported by Kilroy Company in its 2022 statement of cash flows

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students