Question
Land costing $78,000 was sold for $93,000 cash. The gain on the sale was reported on the income statement as other income. On the statement
Land costing $78,000 was sold for $93,000 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?
| a. | $78,000 | |
| b. | $108,000 | |
| c. | $93,000 | |
| d. | $15,000 |
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Introduction To Management Accounting Chapters 1 To 14
Authors: Charles T Horngren, Gary L Sundem, William O Stratton, Dave Burgstahler, Jeff Schatzberg
15th Edition
0136102778, 9780136102779
