Valdez Company sold land that had cost 48 000 for 60 000

Last updated: 4/26/2023

Valdez Company sold land that had cost 48 000 for 60 000 cash Which of the following statements is true about this transaction Multiple Choice 60 000 would appear as a cash Inflow from Investing activities The 12 000 gain would be subtracted from net Income the operating activities section using the direct method The 12 000 gain would be subtracted from net Income in the operating activities section prepared using the Indirect method and 60 000 would be reported as a cash Inflow from Investing activities 2000 would annear as a cash Innow from Investing activities and 12 000 would be added in the operating activities section using the Indirect method