A company is preparing a statement of cash flows (indirect method). During the year, the company sold
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Question:
A company is preparing a statement of cash flows (indirect method).
During the year, the company sold some equipment for $5,500 cash.
The company recorded a $350 gain on the sale.
The equipment originally cost $7,400.
What amounts would appear in the Cash Flows from Operating Activities section and the Cash Flows from Investing Activities section, respectively?
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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