A building with a book value of $46,349 is sold for $61,396 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase ofa. $46,349 in the investing activities section and an addition of $15,047 to net income in the operating activities sectionb. $61,396 in the investing activities section and a deduction of $15,047 from net income in the operating activities sectionc. $46,349 in the investing activities sectiond. $61,396 in the investing activities section

A building with a book value of $46,349 is sold for $61,396 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase ofa. $46,349 in the investing activities section and an addition of $15,047 to net income in the operating activities sectionb. $61,396 in the investing activities section and a deduction of $15,047 from net income in the operating activities sectionc. $46,349 in the investing activities sectiond. $61,396 in the investing activities section

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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