Solution-Should the cash proceeds from the insurance policy

Should the cash proceeds from the insurance policy

Reference no: EM133069704

Question - On June 1, YR01, a tornado completely destroyed a storage warehouse owned by Target Inc. The warehouse had a cost basis of $1,000 and accumulated depreciation of $400. Insurance proceeds of $1,200 were received from Target's insurance company. Should the $1,200 of cash proceeds from the insurance policy be reported on Target's statement of cash flow?

Reference no: EM133069704

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Should the cash proceeds from the insurance policy

Reference no: EM133069704

Reference no: EM133069704

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