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A building with a book value of $43,220 is sold for $56,225 cash. Using the indirect method, this transaction should be shown on the statement
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A building with a book value of $43,220 is sold for $56,225 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows:
a. an increase of $43,220 from investing activities and an addition to net income of $13,005
b. an increase of $56,225 from investing activities
c. an increase of $43,220 from investing activities
d. an increase of $56,225 from investing activities and a deduction from net income of $13,005
A building with a book value of $43,220 is sold for $56,225 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows:
a. an increase of $43,220 from investing activities and an addition to net income of $13,005
b. an increase of $56,225 from investing activities
c. an increase of $43,220 from investing activities
d. an increase of $56,225 from investing activities and a deduction from net income of $13,005
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