Question
Land costing $66,100 was sold for $91,100 cash. The loss on the sale was reported on the income statement as other expense. On the statement
Land costing $66,100 was sold for $91,100 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
a. $66,100
b. $157,200
c. $25,000
d. $91,100
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Cost Estimating
Authors: Rodney D. Stewart
2nd Edition
0471857076, 978-0471857075
