PhotoEase Camera Co. sold equipment with a cost of $19,000 and accumulated depreciation of $7,000 for an
Question:
PhotoEase Camera Co. sold equipment with a cost of $19,000 and accumulated
depreciation of $7,000 for an amount that resulted in a gain of $1,000. What amount should
PhotoEase report on the statement of cash flows as “proceeds from sale of plant assets”?
a. $13,000
b. $11,000
c. $12,000
d. Some other amount
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Muhammad Salman Alvi
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Related Book For 
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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