Question: OS 1 6 - 1 3 Computing cash from asset sales P 3 Refer to the data in QS 1 6 - 7 . Furniture

OS 16-13
Computing cash from asset sales P3
Refer to the data in QS 16-7.
Furniture costing \(\$ 55,000\) is sold at its book value in 2021. Acquisitions of furniture total \(\$ 45,000\) cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash inflow from the sale of furniture?
OS 1 6 - 1 3 Computing cash from asset sales P 3

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