QUESTION 23 A company receives $2,000 for selling used equipment that had a book value of $3,500. The company's statement of cash flows will report: O a. a $2,000 cash inflow in the Investing section only. O b. a $2,000 cash inflow in the Financing section and the add back to net income of a $1,500 loss in the Operating section. O c. a $2,000 cash inflow in the Financing section and the subtraction from net income of a $1,500 loss in the Operating section. Od. a $2,000 cash inflow in the Investing section and the add back to net income of a $1,500 loss in the Operating section.

QUESTION 23 A company receives $2,000 for selling used equipment that had a book value of $3,500. The company's statement of cash flows will report: O a. a $2,000 cash inflow in the Investing section only. O b. a $2,000 cash inflow in the Financing section and the add back to net income of a $1,500 loss in the Operating section. O c. a $2,000 cash inflow in the Financing section and the subtraction from net income of a $1,500 loss in the Operating section. Od. a $2,000 cash inflow in the Investing section and the add back to net income of a $1,500 loss in the Operating section.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 4SEA

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