Phoenix Rising Corporation sold an unused building for $177,000. The building's book value on the date of sale was $172,000. How will this transaction appear in a statement of cash flows prepared using the indirect method?
A) A $172,000 increase in investing activities and $5,000 increase in operating activities
B) A $177,000 increase in investing activities and $5,000 increase in operating activities
C) A $177,000 increase in investing activities and $5,000 decrease in operating activities
D) A $172,000 increase in investing activities and $5,000 decrease in operating activities
Correct Answer:
Verified
Q60: Operating activities are related to the transactions
Q61: Activities that affect long-term liabilities and stockholders'
Q62: 1.1.is:
A)deducted from net income to determine net
Q63: Cash receipts from financing activities do NOT
Q64: Naraval Corporation sold used equipment with a
Q66: Which of the following transactions would be
Q67: Cash receipts from investing activities include:
A)issuing stock
Q68: Yanks Company acquired a building by issuing
Q69: Tryout Corporation's balance in its land account,
Q70: Cash payments from investing activities do NOT
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