Q11-48. Click Camera Co. sold equipment with a cost of $22,000 and accumulated depreciation of $10,000 for
Question:
Q11-48. Click Camera Co. sold equipment with a cost of $22,000 and accumulated depreciation of $10,000 for an amount that resulted in a gain of $2,000. What amount should Click report on the statement of cash flows as “proceeds from sale of PPE?”
a. $10,000
c. $20,000
b. $14,000
d. Some other amount ________________________________________
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Accounting International Financial Reporting Standards Global Edition
ISBN: 9781292211145
11th Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison
Question Posted: