Land costing $125,000 was sold for $325,000 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?
A) $125,000.
B) $325,000.
C) $280,000.
D) $200,000.
Correct Answer:
Verified
Q146: All of the following adjustments are added
Q148: The cash debt coverage is computed by
Q149: Minette Company reported net income of $120,000
Q150: The current cash debt coverage is computed
Q151: During 2014, Ecuyer Industries reported cash provided
Q154: Laser Performance Inc. has the following
Q155: If a loss of $27,000 is incurred
Q156: Free cash flow provides an indication of
Q157: During 2014, Ecuyer Industries reported cash provided
Q158: If a gain of $45,000 is incurred
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents