Puget Sound Co. sold marketable securities costing ($ 80,000) for ($ 92,000) cash. In the company's income

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Puget Sound Co. sold marketable securities costing $\$ 80,000$ for $\$ 92,000$ cash. In the company's income statement and statement of cash flows, respectively, this will appear as:

a. A $\$ 12,000$ gain and a $\$ 92,000$ cash receipt.

b. A $\$ 92,000$ gain and an $\$ 8,000$ cash receipt.

c. A $\$ 12,000$ gain and an $\$ 80,000$ cash receipt.

d. A $\$ 92,000$ sale and a $\$ 92,000$ cash receipt.

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Financial Accounting

ISBN: 9780077328702

15th Edition

Authors: Jan Williams, Sue Haka, Mark Bettner, Joseph Carcello

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Question Posted: May 13, 2024 10:00 AM

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Puget Sound Co. sold marketable securities costing ($ 80,000) for ($ 92,000) cash. In the company's income

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Financial Accounting

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