contestada

Knowledge check 01 hawley company uses the direct method of reporting cash flows from operating activities. hawley sold land with a cost of $8,000. the company reported a gain on the sale of the land in the amount of $2,000. what was the amount of cash collected from the sale of the land

Respuesta :

The cash collected from the sale of land is equal to the cost of the land plus the gain on the sale of the land. Thus, the amount of cash collected is equal to $10,000.

What do mean by sale?

A sale is a transaction among or extra events wherein the purchaser gets tangible or intangible goods, services, or belongings in change for money.

here, the amount of cash collected from sale of land is equal to $10,000 that is $8,000(cost) plus $2000 (gain).

Thus, Thus, the amount of cash collected is equal to $10,000.

Learn more about Sales here:

https://brainly.com/question/25743891

#SPJ1