Question
The beginning and ending balances of long-term investments are $50,000 and $40,000 respectively. A gain on sale of long-term investments for the year is $3,000.
The beginning and ending balances of long-term investments are $50,000 and $40,000 respectively. A gain on sale of long-term investments for the year is $3,000. How much cash is received from the sale of investments during the year? (Assume no investments were purchased.)
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Accounting In Business
Authors: R. J. Bull
5th Edition
0408014865, 978-0408014861
