Author Question: Cash investments made by the owner to the business are reported on the statement of cash flows in ... (Read 65 times)

lracut11 · **on:** Jul 5, 2018

Cash investments made by the owner to the business are reported on the statement of cash flows in the
a. financing activities section
b. investing activities section
c. operating activities section
d. supplemental statement

Question 2

A local citizen donated land with a fair market value of 500,000 to the county government. The donor had paid 550,000 for the land five years ago. The county incurred 150,000 in development costs to convert the land into a public park.

The county should capitalize the new public park in the General Capital Assets accounts in the amount of
A. 500,000.
B. 550,000.
C. 650,000.
D. 700,000.