Land costing $47000 was sold for $78000 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?

🎲 Try a Random Question  |  Total Questions in Quiz: 75  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
Financial Accounting — practice the complete quiz, review flashcards, or try a random question.


Land costing $47000 was sold for $78000 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?






ADVERTISEMENT