Question
A piece of equipment with an original cost of $3,000, accumulated depreciation of $2,000, and no salvage value was sold for cash of $750. This
A piece of equipment with an original cost of $3,000, accumulated depreciation of $2,000, and no salvage value was sold for cash of $750. This transaction should be reported on the Statement of Cash Flows as which of the following?
Group of answer choices
Subtract from Operating Activities and add to Investing Activities.
Add to Operating Activities and subtract from Investing Activities.
Subtract from Operating Activities and subtract from Investing Activities.
Add to Operating Activities and add to Investing Activities.
The correct answer is not listed.
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
