Land costing $ 100,000 was sold for $69,000 cash . The loss ( $31,000 ) on the sale was reported on the income statement . On the Statement of Cash Flows , what amount if any , should be reported as an investing activity from the sale of land ? $31,000 $69,000 None of the listed choices are correct $ 100,000 $131,000

Land costing $ 100,000 was sold for $69,000 cash . The loss ( $31,000 ) on the sale was reported on the income statement . On the Statement of Cash Flows , what amount if any , should be reported as an investing activity from the sale of land ? $31,000 $69,000 None of the listed choices are correct $ 100,000 $131,000

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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