Question
A machine with a cost of $142,000 and accumulated depreciation of $97,000 is sold for $56,000 cash. The amount that should be reported as a
| A machine with a cost of $142,000 and accumulated depreciation of $97,000 is sold for $56,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: |
A.zero. this is a operating activity
B.45000
C.11000
D.zero. this is a financing activity
E.56000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing And Assurance Services A Systematic Approach
Authors: William Messier, Steven Glover, Douglas Prawitt
12th Edition
1264100671, 978-1264100675
