At the time of the sale-the gain should be reported


Carey sold its headquarters building at a gain, and simultaneously leased back the building. The lease was reported as a capital lease. At the time of the sale, the gain should be reported as:

a. Operating income

b. An extraordinary item, net of income tax

c. A separate component of stockholders' equity

d. A deferred gain.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: At the time of the sale-the gain should be reported
Reference No:- TGS084837

Expected delivery within 24 Hours