On july 15 2011 m.w. morgan distribution sold land for 36, Ask an Expert

Accounting

On July 15, 2011, M.W. Morgan Distribution sold land for $36 million that it had purchased in 2006 for $25 million.

(a) What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2011, using the direct method? (Enter your answer in millions. Input the amount as positive value. Omit the "$" sign in your response.)

(b) Illustrate what would the above amount differ if the company were using indirect method?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9401015

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