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Avocado company sold equipment that originally cost $ 100,000 and accumulated depreciation in the amount of $ 75,000 for $28,000 cash. What amount is reported in the cash flows from operating activities section of the statement of cash flows for the sale of this equipment when using the indirect method: A. 0 B. -$3000 C. $28,000 D. $3000

Avocado company sold equipment that originally cost $ 100,000 and accumulated depreciation in the amount of $ 75,000 for $28,000 cash. What amount is reported in the cash flows from operating activities section of the statement of cash flows for the sale of this equipment when using the indirect method: A. 0 B. -$3000 C. $28,000 D. $3000

FINANCIAL ACCOUNTING
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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Avocado company sold equipment that originally cost $ 100,000 and accumulated depreciation in the amount of $ 75,000 for $28,000 cash. What amount is reported in the cash flows from operating activities section of the statement of cash flows for the sale of this equipment when using the indirect method: A. 0 B. -$3000 C. $28,000 D. $3000
Transcribed Image Text:Avocado company sold equipment that originally cost $ 100,000 and accumulated depreciation in the amount of $ 75,000 for $28,000 cash. What amount is reported in the cash flows from operating activities section of the statement of cash flows for the sale of this equipment when using the indirect method: A. 0 B. -$3000 C. $28,000 D. $3000
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