Cash Flows From Investing Activites
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From the balance sheet info for 2011 and 2012 I calculated the following:
Change in Equipment from 2011 to 2012: decrease of $35,000
Change in Accumulated Depreciation from 2011 to 2012: decrease of $5,000
Depreciation expense of $15,000 was reported on the 2012 income statement. Equipment with an original cost of $35,000 was sold for its book value.
What is the amount of cash received from the sale of the equipment?
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Solution Summary
Cash flows from investing activities are examined. The amount of cash received from the sale of the equipment is determined.
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