Question 19 (2 points) Saved Equipment which cost $71,000 and had accumulated depreciation of $38,000 was...

Transcribed Image Text:

Question 19 (2 points) Saved Equipment which cost $71,000 and had accumulated depreciation of $38,000 was sold for $37,000 cash. This transaction should be shown on the statement of cash flows (indirect method) as an addition(subtraction) from which section(s) and in what amounts a) In flow in investing for $37,000 and addition in operating of $4,000. b) Out flow in investing for $37,000 and addition in operating of $4,000. c) In flow in investing for $37,000 and subtraction in operating of $4,000. d) Out flow in investing for $37,000 and addition in operating of $4,000. Question 19 (2 points) Saved Equipment which cost $71,000 and had accumulated depreciation of $38,000 was sold for $37,000 cash. This transaction should be shown on the statement of cash flows (indirect method) as an addition(subtraction) from which section(s) and in what amounts a) In flow in investing for $37,000 and addition in operating of $4,000. b) Out flow in investing for $37,000 and addition in operating of $4,000. c) In flow in investing for $37,000 and subtraction in operating of $4,000. d) Out flow in investing for $37,000 and addition in operating of $4,000.