Land Costing $65,000 Was Sold for $125,000 Cash

question 101

Multiple Choice

Land costing $65,000 was sold for $125,000 cash.The gain on the sale was reported on the income statement as an operating expense.On the statement of cash flows, what amount should be reported as an investing activity from the sale of the land?

• A)$5,000
• B)$60,000
• C)$65,000
• D)$125,000

Understand the difficulties and efficiencies in recycling various materials.

Recognize strategies and policies that can enhance recycling and waste management efforts.

Understand the environmental and health impacts of certain pollutants and waste management practices.

Grasp the significance of alternative methods and philosophies in waste management and the mitigation of pollution.

---

Definitions:

Completion of Sale

This term signifies the point at which a transaction is finalized, and all conditions for the sale have been satisfied, transferring ownership from seller to buyer.

Equity

The amount of ownership interest in an asset or business, after deducting all debts associated with that asset.