Question
Land costing $46,353 was sold for $78,194 cash. The gain on the sale was reported on the income statement as Other revenue. On the statement
Land costing $46,353 was sold for $78,194 cash. The gain on the sale was reported on the income statement as Other revenue. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
a.$31,841
b.$78,194
c.$46,353
d.$124,547
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Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian Edition volume 2
013269008X, 978-0133122855, 133122859, 978-0132690089
