Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mega Sales sells some of its used store fixtures. The acquisition cost of the fixtures is $12,628, and the accumulated depreciation on these fixtures is

Mega Sales sells some of its used store fixtures. The acquisition cost of the fixtures is $12,628, and the accumulated depreciation on these fixtures is $6,790 at the time of sale. The fixtures are sold for $4,955. Determine the amount of cash flows from investing activities on the statement of cash flows.

Select the correct answer.

A $12,628

B $883

C $5,838

D $4,955

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Managerial Accounting Tools for business decision making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

6th Edition

978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895

Students also viewed these Accounting questions