Question
A building with a book value of $43,811 is sold for $58,593 cash. Using the indirect method, this transaction should be shown on the statement
A building with a book value of $43,811 is sold for $58,593 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as follows:
an increase of $43,811 from investing activities
an increase of $58,593 from investing activities and a deduction from net income of $14,782
an increase of $43,811 from investing activities and an addition to net income of $14,782
an increase of $58,593 from investing activities
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Fundamental Accounting Principles Volume 2
Authors: John Wild, Ken Shaw, Barbara Chiappetta
21st Edition
0077716663, 978-0077716660
