Question
The Beck Boat Co. equipment account increased by $20,000 and its accumulated depreciation account increased by $6,000 during fiscal year 2020. During fiscal year 2020,
The Beck Boat Co. equipment account increased by $20,000 and its accumulated depreciation account increased by $6,000 during fiscal year 2020. During fiscal year 2020, Beck Boat Co. sold equipment costing $42,000 with accumulated depreciation of $26,000 for $6,000 cash. Beck Boat Co. had no other noncurrent assets. What is the cash flow from investing activities (in equipment) during fiscal year 2020?
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College Accounting Chapters 1-30
Authors: David Haddock, John Price, Michael Farina
16th Edition
1260247902, 978-1260247909
