Bethel Aquatics, Inc. purchased land in Year 1 for $175,000. They sold the land in Year 3 for $215,000. How would Bethel report the sale of land on their Year 3 statement of cash flows using the indirect method? Select one: а. Operating Activities: No effect Investing Activities: Add $215,000 Financing Activities: |No effect b. Operating Activities: Add $40,000 to net income Investing Activities: Add $215,000 Financing Activities: No effect C. Operating Activities: Subtract $40,000 from net income Investing Activities: Add $215,000 Financing Activities: |No effect d. Operating Activities: Subtract $40,000 from net income Investing Activities: No effect Financing Activities: Add $215,000

Bethel Aquatics, Inc. purchased land in Year 1 for $175,000. They sold the land in Year 3 for $215,000. How would Bethel report the sale of land on their Year 3 statement of cash flows using the indirect method? Select one: а. Operating Activities: No effect Investing Activities: Add $215,000 Financing Activities: |No effect b. Operating Activities: Add $40,000 to net income Investing Activities: Add $215,000 Financing Activities: No effect C. Operating Activities: Subtract $40,000 from net income Investing Activities: Add $215,000 Financing Activities: |No effect d. Operating Activities: Subtract $40,000 from net income Investing Activities: No effect Financing Activities: Add $215,000

Name: Bethel Aquatics, Inc. purchased land in Year 1 for $175,000. They sol
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Description: Bethel Aquatics, Inc. purchased land in Year 1 for $175,000. They sold the land in Year 3 for $215,000. How wouldBethel report the sale of land on their Year 3 statement of cash flows using the indirect method?Select one:a.Operating Activities: No e

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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