Question
The cash flow statement of the United Company is in process for 20X2. The United Company is reporting the following balances: 12/31/X1 12/31/X2 Equipment $
The cash flow statement of the United Company is in process for 20X2. The United Company is reporting the following balances:
| 12/31/X1 | 12/31/X2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equipment | $ | 100,000 | $ | 170,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss on sale of equipment | 0 | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated depreciationequipment | 75,000 | 95,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
During 20X2, United sold equipment costing $30,000 for $12,000 and made several purchases of new equipment for cash.
If these were the only investing activities, the cash flow from investing activities is a net cash:
Multiple Choice
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inflow of $88,000.
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outflow of $88,000.
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outflow of $12,000.
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inflow of $12,000.
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Organizational Auditing And Assurance In The Digital Age
Authors: Rui Pedro Marques, Carlos Santos, Helena Inácio
1st Edition
1522573569, 978-1522573562
