Business, 14.04.2020 18:25 LilFreaky666

A flood damaged a building and contents. The receipts from insurance companies totaled $600,000, which was $180,000 less than the book values. The tax rate is 30%. On the statement of cash flows (indirect method), the flood loss should
a. be shown as an inflow from investing activities of $438000.
b. be shown as an addition to net income of $438000.
c. be shown as an inflow from investing activities of $611000
d. not be shown.

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A flood damaged a building and contents. The receipts from insurance companies totaled $600,000, whi...

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