Tech Solutions sold machinery with a cost of $35,000 and accumulated depreciation of $15,000 for an amount that resulted in a gain of $8,000. What amount should Tech Solutions report on the statement of cash flows as 'proceeds from sale of fixed assets"? A. $20,000 B. $28,000 C. $43,000

Tech Solutions sold machinery with a cost of $35,000 and accumulated depreciation of $15,000 for an amount that resulted in a gain of $8,000. What amount should Tech Solutions report on the statement of cash flows as 'proceeds from sale of fixed assets"? A. $20,000 B. $28,000 C. $43,000

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.3AIC: Estimate the average total estimated useful life of depreciable property, plant, and equipment....

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Question

Provide correct answer general accounting question

Tech Solutions sold machinery with a cost of $35,000 and accumulated depreciation of
$15,000 for an amount that resulted in a gain of $8,000. What amount should Tech
Solutions report on the statement of cash flows as 'proceeds from sale of fixed assets"?
A. $20,000
B. $28,000
C. $43,000

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