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gurvir sarao
on Nov 18, 2024

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Land costing $71,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?

A) $50,000
B) $71,000
C) $121,000
D) $21,000

Investing Activity

A category in the cash flow statement that shows how much money has been spent on or gained from investment operations, excluding amounts related to day-to-day operations.

  • Understand the classification and reporting of cash flows from investing and financing activities.
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Emily HenriquezNov 24, 2024
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