If land costing $75,000 was sold for $135,000, the amount reported in the investing activities section of the statement of cash flows would be $135,000.

Question

Quizplus · Accepted Answer

The amount reported in the investing activities section of the statement of cash flows would be the difference between the sale price and the cost of the land, which is $60,000 ($135,000 - $75,000). Therefore, the correct statement is true.

If Land Costing $75,000 Was Sold for $135,000, the Amount