Homework Answers
| Ans. | Option b | |||
| Investing activity: | ||||
| Selling price of building (inflow) = $55,680 | ||||
| *Sale or purchase transation of property, plant and equipment are listed in the Investing activities section | ||||
| of cash flow statement. | ||||
| Operating activity: | ||||
| Gain on sale of building (outflow) = Selling price - Book value | ||||
| $55,680 - $45,958 = $9,722 | ||||
| *Non operating income (gain on sales of building) is deducted from Net income. | ||||
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