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During the year, Nomia Company sold some of the factory equipment for $11,750. The equipment had an original cost of $23.200 and accumulated depreciation of $9,620. Which of the following is true regarding Nomia's statement of cash flows? Multiple Choice $9,920 is reported in the investing activities section as a cash inflow. $13,580 is reported in the investing activities section as a cash inflow. $11,750 is reported in the investing activities section as a cash inflow, and $1,830 is added to net cash flow in the operating activities section.

During the year, Nomia Company sold some of the factory equipment for $11,750. The equipment had an original cost of $23.200 and accumulated depreciation of $9,620. Which of the following is true regarding Nomia's statement of cash flows? Multiple Choice $9,920 is reported in the investing activities section as a cash inflow. $13,580 is reported in the investing activities section as a cash inflow. $11,750 is reported in the investing activities section as a cash inflow, and $1,830 is added to net cash flow in the operating activities section.

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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During the year, Nomia Company sold some of the factory equipment for $11,750. The equipment had an original cost of $23.200 and accumulated depreciation of $9,620. Which of the following is true regarding Nomia's statement of cash flows? Multiple Choice $9,920 is reported in the investing activities section as a cash inflow. $13,580 is reported in the investing activities section as a cash inflow. $11,750 is reported in the investing activities section as a cash inflow, and $1,830 is added to net cash flow in the operating activities section.
Transcribed Image Text:During the year, Nomia Company sold some of the factory equipment for $11,750. The equipment had an original cost of $23.200 and accumulated depreciation of $9,620. Which of the following is true regarding Nomia's statement of cash flows? Multiple Choice $9,920 is reported in the investing activities section as a cash inflow. $13,580 is reported in the investing activities section as a cash inflow. $11,750 is reported in the investing activities section as a cash inflow, and $1,830 is added to net cash flow in the operating activities section.
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