Question
A machine with a cost of $131,000 and accumulated depreciation of $86,000 is sold for $50,500 cash. The amount that should be reported as a
| A machine with a cost of $131,000 and accumulated depreciation of $86,000 is sold for $50,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: |
A.) $50,500.
B.) Zero. This is a financing activity.
C.) $45,000.
D.) Zero. This is an operating activity.
E.) $5,500.
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
4th Edition
0730382648, 978-0730382645
