Question: Please help assignment for Week 9. Week 9 Question - Why do I subtract any Gain on Sale of Long Term Absets? In the Statement
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assignment for Week 9. Week 9 Question - "Why do I subtract any Gain on Sale of Long Term Absets?" In the Statement of Cash Flows, we are told to deduct any "Gain on Sale of Long Term Assets" from the Operating activities section - for that matter, we are told to add back any "Loss on Sale of Long Term Assets" when computing Cash Flows from Operating Activities. Does this make any sense? Explain (in two or three sentences) why we deduct a gain and add back a loss when computing Cash Flows from Operating Activities. Please give more than a one sentence response
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