Carrington Company bought a factory building 2 years ago for $250,000. In the current year, it sold
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Question:
Carrington Company bought a factory building 2 years ago for $250,000. In the current year, it sold the building for $275,000. On the statement of cash flows, the net effect of this transaction would be recorded as
a. income of $25,000 in the Investing Activities section.
b .a gain of $275,000 in the Operating Activities section.
c. a gain of $25,000 in the Operating Activities section.
d. a loss of $25,000 in the Investing Activities section.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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