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need fast please In Year One, the Karsenti Company reported net income of $30,000. Among many other accounts, the income statement included sales revenue of
need fast please
In Year One, the Karsenti Company reported net income of $30,000. Among many other accounts, the income statement included sales revenue of $500,000, cost of goods sold of $300,000, depreciation expense - equipment of $50,000, and a gain on sale of equipment of $23,000. Included on the balance sheet were a number of accounts such as bonds payable (increased $23,000 ), accounts payable, (decreased $6,000 ), retained earnings (increased $11,000 ), equipment (decreased $70,000 ), accumulated depreciation-equipment (increased $29,000 ), accounts receivable (decreased $17,000 ), and inventory (increased $3,000 ) No capital stock was issued or reacquired during the year. One piece of equipment was sold by Karsenti this year for cash, and none was bought. Which of the following is true about this sale of equipment? It is an investing activity cash inflow of $72.000. It is an investing activity cashinflow of $93,000. It is an investing activity cash inflow of $49,000. It is an investing activity cashinflow of $63,000 Step by Step Solution
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