1-4-5 If a gain of $230000 is realized in the cash sale of a building having...
1-4-5
If a gain of $230000 is realized in the cash sale of a building having a book value of $918000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
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$688000. |
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$918000. |
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$230000. |
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$1148000. |
Homework Answers
Gain on sale of building = $230,000
Book value of building = $918000
Cash received from sale of building = Book value of building + Gain on sale of building
= 918,000 + 230,000
= $1,148,000
The total amount reported in the cash flows from investing activities section of the statement of cash flows = $1,148,000
Fourth option is correct.
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