Question
The Plant Assets account and Accumulated DepreciationPlant Assets account of Fun Placeshow the following: Plant assets ______________________________________________________ Beg 83,000 | Acquisitions 378,000 | 57,000 disposals
The Plant Assets account and Accumulated DepreciationPlant Assets account of Fun Placeshow the following:
Plant assets
______________________________________________________
Beg 83,000 |
Acquisitions 378,000 | 57,000 disposals
end 404,000 |
Accumulated depreciation- Plant Assets
______________________________________________
| 24,000 12/31/2015
Disposals 13,000 | 25,000 depr.exp
| 36,000 12/31/2016
Fun Place sold plant assets at a $17,000 loss. Where on the statement of cash flows should Fun Place report the sale of plant assets? How much should the business report for the sale?
A.Investing cash flowscash receipt of $ 44,000B.Financing cash flowscash receipt of $ 44,000C.Investing cash flows receipt of $ 27,000D.Investing cash flows receipt of $ 61,000
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