Question
Cougar Corp. sold a vehicle on December 31. The vehicle had an original cost of $85,000. Over its life, the vehicle was depreciated $65,000. When
Cougar Corp. sold a vehicle on December 31. The vehicle had an original cost of $85,000. Over its life, the vehicle was depreciated $65,000. When the vehicle was sold, Cougar Corp. recorded a gain of $10,000. What amount will appear in the investing activities section of the cash flow statement as a result of this transaction?
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Financial Accounting An International Perspective
Authors: Arne Kinserdal
2nd Edition
0273631543, 978-0273631545
