Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The records of Count Bases Pizzas showed the following. 30 June 15 30 June 16 Pizza ovens and equipment $49 000 $53 000 Accumulated depreciation
The records of Count Bases Pizzas showed the following.
30 June 15 30 June 16
Pizza ovens and equipment $49 000 $53 000
Accumulated depreciation ovens and equipment 10 000 12 000
Cost of equipment sold 5 000
Carrying value of equipment sold 3 000
Proceeds of sale of equipment 4 500
What is the investing cash inflow for equipment sold during 2015/16?
Select one:
a. Proceeds of sale of equipment $4500
b. Cost of equipment sold $5000
c. Carrying value of equipment sold $3000
d. Equipment sold $4000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started