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Capnix University sold 3 of its campuses for $2,500,000, recognizing a gain on disposal of $600,000. These 3 campuses represented the entire east coast division.How
Capnix University sold 3 of its campuses for $2,500,000, recognizing a gain on disposal of $600,000. These 3 campuses represented the entire east coast division.How should Capnix University report this gain?
- A
- :
- as an other revenue on the income statement
- B
- :
- as an unrealized gain on the income statement
- C
- :
- as a gain on disposal net of income tax on the income statement
- D
- :
- as a gain from discontinued operation net of income tax on the income statement
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