A company reported that its bonds with a par value of $50,000 and a carrying value of $67,000 are retired for $72,000 cash, resulting in a loss of $5,000. The amount to be reported under cash flows from financing activities is:

$17,000.

$(72,000).

$(17,000).

$(5,000).

$(67,000).

A company reported that its bonds with a par value of $50,000 and a carrying value of $67,000 are retired for $72,000 cash, resulting in a loss of $5,000. The amount to be reported under cash flows from financing activities is:

$(72,000).

$(17,000).

$(67,000).

$(5,000).

$17,000.

Mercury Company reports depreciation expense of $45,000 for Year 2. Also, equipment costing $156,000 was sold for its book value in Year 2. The following selected information is available for Mercury Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

At December 31	Year 2	Year 1
Equipment	$ 635,000	$ 791,000
Accumulated Depreciation-Equipment	448,000	525,000

$45,000.

$38,500.

$77,000.

$79,000.

$34,000.

Jamison Company reports depreciation expense of $60,000 for Year 2. Also, equipment costing $200,000 was sold for a $7,000 gain in Year 2. The following selected information is available for Jamison Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

At December 31	Year 2	Year 1
Equipment	$ 710,000	$ 910,000
Accumulated Depreciation-Equipment	508,000	600,000

$48,000.

$108,000.

$55,000.

$41,000.

$60,000.