Land costing $ 140000 was sold for $ 397600 cash. The gain on the sale was reported
Fantastic news! We've Found the answer you've been seeking!
Question:
Land costing $140000 was sold for $397600 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date: