Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Keisler Corporation reports: 2016 2017 Equipment, December 31 $10,000 $20,000 Accumulated depreciation, December 31 ($5,000) ($7,000) Depreciation Expense of Equipment $5,000 Gain on disposal of

Keisler Corporation reports: 2016 2017 Equipment, December 31 $10,000 $20,000 Accumulated depreciation, December 31 ($5,000) ($7,000) Depreciation Expense of Equipment $5,000 Gain on disposal of Equipment $2,000 During 2017, Keisler sold equipment which has original cost of $5,000. Additional purchase of equipment in 2017 was paid in cash. No other investing activities are reported in 2017. What is cashflows by investing activities in 2017? Group of answer choices

$(10,000).

$4,000.

$(8,000).

$(11,000).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting An Introduction

Authors: Eddie McLaney, Peter Atrill

2nd Edition

0273655507, 978-0273655503

More Books

Students also viewed these Accounting questions

Question

14. Let X be uniform over (0, 1). Find E[X|X Answered: 1 week ago

Answered: 1 week ago

Question

=+What do you think about the CDFI Fund, establish in 1994?

Answered: 1 week ago