Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Land costing $76,400 was sold for $94,300 cash. The gain on the sale was reported on the income statement as other revenue. On the

Land costing $76,400 was sold for $94,300 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? Oa. $17,900 Ob. $170,700 Oc. $76,400 Od. $94,300

Step by Step Solution

3.40 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Answer a 17900 Ammount ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

17th Edition

032459237X, 978-0324592375

More Books

Students also viewed these Accounting questions

Question

State the uses of job description.

Answered: 1 week ago

Question

Explain in detail the different methods of performance appraisal .

Answered: 1 week ago