Question: Question Content Area Land costing $ 4 9 , 7 0 9 was sold for $ 8 5 , 6 5 0 cash. The gain

Question Content Area
Land costing $49,709 was sold for $85,650 cash. The gain on the sale was reported on the income statement as Other revenue. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
a. $135,359
b. $49,709
c. $85,650
d. $35,941

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Question Content Area Land costing $ 4 6 , 9 5 6 was sold for $ 7 5 , 6 2 8 cash. The gain on the sale was reported on the income statement as Other revenue. On the statement of cash flows, what...

Q:

Print Item Question Content Area Land costing $94,071 was sold for $70,659 cash. The loss on the sale was reported on the income statement as Other expense. On the statement of cash flows, what...

Q:

Content Area Land costing $41,563 was sold for $78,648 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...

Q:

roblem 14-76 (LO. 8, 9, 10) On May 2, 1993, Hannah Weather (Social Security number: 111-22-3333) acquired residential real estate (an apartment building) for $450,000. Of the cost, $100,000 was...

Q:

eBook Show Me How Question Content Area Land Transactions on the Statement of Cash Flows Easterly Corporation purchased land for $ 5 1 6 , 0 0 0 . Later in the year, the company sold a different...

Q:

Q1. Product Cost Concept of Product Pricing La Mujer Accessories Inc. produces women's handbags. The cost of producing 1,270 handbags is as follows Direct materials $15,700 Direct labor 7,600 Factory...

Q:

Question Content Area Wickers Restoration Services had the following transactions on May. Received $48,000 from sale of common stock. Paid rent on office for the month, $880. Purchased supplies on...

Q:

Question Content Area Comprehensive Problem 4 Part 2 : Note: You must complete part 1 before part 2 . After all of the transactions for the year ended December 3 1 , 2 0 Y 5 , had been posted [...

Q:

Question Content Area Comprehensive Problem 4 Part 2 : Note: You must complete part 1 before part 2 . After all of the transactions for the year ended December 3 1 , 2 0 Y 5 , had been posted [...

Q:

eBook Question Content Area Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following information: 12/31/2019 12/31/2018 Furniture...

Q:

Suppose that the 12 observations X1, . . . , X12 form a random sample from the normal distribution with unknown mean and unknown variance 2. Describe how to carry out a t test of the following...

Q:

The following cash data were adapted from the annual report of Harley-Davidson, Inc., for the period ended December 31, 2004. The cash balance as of January 1, 2004, was $329,329 (in thousands). In...

Q:

underwriting the workers compensation coverage line for a mattress and linen manufacturer, what questions should be asked in order to underwrite the account?

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...