Land costing $125,000 was sold for $355,000 cash. The gain on the sale was reported on the

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Land costing $125,000 was sold for $355,000 cash. The gain on the sale was reported on the income statement other income. On the statement of cash flows, what amount should be reported as an investing activity from sale of land?

A) $155,000

B) $355,000.

C) $310,000.

D) $230,000 \r\n

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Oct 27, 2020 09:46 PM

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Land costing $125,000 was sold for $355,000 cash. The gain on the sale was reported on the

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Intermediate Accounting

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