If a gain of $194000 is realized in the cash sale of a building having a...

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If a gain of $194000 is realized in the cash sale of a building having a...

If a gain of $194000 is realized in the cash sale of a building having a book value of $774000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is

$968000.

$774000.

$194000.

$580000

business accounting

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Answer 1

Answer #1

Since there is a gain on sale;hence sale proceeds is greater than book value of building

Hence sale proceeds=194000+774000

=$968000

Hence cash flow from investing activities=Sale proceeds

=$968000

NOTE:Any gain from such sale would be reported under cash flow from operating activities etc.

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Answer 2

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