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

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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What amount should crystal tech report?

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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