QUESTION: A building with a book value of $49,315 is sold for $53,135 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of: a. $49,315 from investing activities b. $53,135 from investing activities c. $53,135 from investing activities and a deduction from net income of $3,820 d. $49,315 from investing activities and an addition to a net income of $3,820
QUESTION: A building with a book value of $49,315 is sold for $53,135 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of: a. $49,315 from investing activities b. $53,135 from investing activities c. $53,135 from investing activities and a deduction from net income of $3,820 d. $49,315 from investing activities and an addition to a net income of $3,820
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:QUESTION:
A building with a book value of $49,315 is sold for $53,135 cash. Using the indirect
method, this transaction should be shown on the statement of cash flows as an
increase of:
a. $49,315 from investing activities
b. $53,135 from investing activities
c. $53,135 from investing activities and a deduction from net income of $3,820
d. $49,315 from investing activities and an addition to a net income of $3,820
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