Land costing $41,155 was sold for $77,036 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? Select the correct answer. -$41,155 -$118,191 -$77,036 -$35,881

Kk.206.

26.A gain on the sale of a plant asset in the ordinary course of business should be presented in a statement of cash flows prepared using the indirect method as an addition to net income  Group of answer choices True False

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On May 1, Soriano Company reported the following account balances along with their estimated fair values: Carrying Amount $ 245,300 79,200 Fair Value $ 245,300 79,200 505,500 658,000 125,500 875,000 $ 1,325,000 $ 1,488,000 $ 253,000 729,800 Account Receivables Inventory Copyrights Patented technology Total assets Current liabilities Long-term liabilities Common stock Retained earnings $ 253,000 740,000 100,000 232,000 $ 1,325,000 On that day, Zambrano paid cash to acquire all of the assets and liabilities of Soriano, which will cease to exist as a separate entity. To facilitate the merger, Zambrano also paid $100,000 to an investment banking firm. The following information was also available: • Zambrano further agreed to pay an extra $71,200 to the former owners of Soriano only if they meet certain revenue goals during the next two years. Zambrano estimated the present value of its probability adjusted expected payment for this contingency at $35,600. • Soriano has a research and…

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A building with a book value of $41,219 is sold for $57,394 cash. Using the indirect method, choose how this transaction should be shown on the statement of cash flows. Select the correct answer. an increase of $41,219 from investing activities and an addition to net income of $16,175 an increase of $41,219 from investing activities an increase of $57,394 from investing activities an increase of $57,394 from investing activities and a deduction from net income of $16,175 4:06 PM 12/20/2019

What is the statement of cash flows for this? Revenues = $304000 COGS = 164000 Depreciation = 24000 Other expenses = 28000 Loss of sale on land = 20000 Net income = 68000

Land costing $40,631 was sold for $79,720 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?