Question
Land costing $49,708 was sold for $70,714 cash. The gain on the sale was reported on the income statement as other income. On the statement
Land costing $49,708 was sold for $70,714 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
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Fundamentals Of Cost Accounting
Authors: Michael W Maher, William N. Lanen, Madhav V. Rajan
1st Edition
0073018376, 978-0073018379
