In 2023 , Kahlon Company sold equipment for $ 15,000 . The equipment originally cost Kahlon $30,000 in 2019 , and accumulated depreciation when Kahlon sold the equipment was $ 18,000 . The gain on the sale-\$3.000-wa included in Kahlon's 2023 income statement . The sale of the equipment would affect Kahlon's statement of cash flows as follows : The $15,000 would be reported as a positive cash flow in the Financing Activities section . The $ 3,000 gain would be deducted from net income in the Operating Activities section . All of the choices listed above are correct . None of the listed choices are correct . The $18,000 accumulated depreciation would be added to net income in the Operating Activities section .
In 2023 , Kahlon Company sold equipment for $ 15,000 . The equipment originally cost Kahlon $30,000 in 2019 , and
The $15,000 would be reported as a positive cash flow in the Financing Activities section .
The $ 3,000 gain would be deducted from net income in the Operating Activities section .
All of the choices listed above are correct .
None of the listed choices are correct .
The $18,000 accumulated depreciation would be added to net income in the Operating Activities section .
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