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Crystal Tech Inc. sold machinery with a cost of $30,000 and accumulated depreciation of $12,000 for an amount that resulted in a gain of $4,000. What amount should Crystal Tech report on the statement of cash flows as "proceeds from sale of plant assets"?

Crystal Tech Inc. sold machinery with a cost of $30,000 and accumulated depreciation of $12,000 for an amount that resulted in a gain of $4,000. What amount should Crystal Tech report on the statement of cash flows as "proceeds from sale of plant assets"?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 3GI: Thompson Company sold a piece of equipment that had an original cost of 22,000 and a carrying value...
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Crystal Tech Inc. sold machinery with a cost of $30,000 and accumulated depreciation of $12,000 for an amount that resulted in a gain of $4,000. What amount should Crystal Tech report on the statement of cash flows as "proceeds from sale of plant assets"?
Transcribed Image Text:Crystal Tech Inc. sold machinery with a cost of $30,000 and accumulated depreciation of $12,000 for an amount that resulted in a gain of $4,000. What amount should Crystal Tech report on the statement of cash flows as "proceeds from sale of plant assets"?
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