A machine with a cost of $144,000, accumulated depreciation of $92,000, and current year depreciation expense of $20,500 is sold for $45,600 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $46,400. $6,400. $20,500.

A machine with a cost of $144,000, accumulated depreciation of $92,000, and current year depreciation expense of $20,500 is sold for $45,600 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $46,400. $6,400. $20,500.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A machine with a cost of $144.000, accumulated depreciation of $92,000, and current year depreciation expense of $20,500 is
sold for $45,600 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
Multiple Choice
$46,400.
$6.400.
$20,500
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