If a gain of $13,500 is incurred in selling (for cash) office equipment having a book value of $100,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is

Question

Quizplus · Accepted Answer

The cash flows from investing activities section reports the cash received from the sale of office equipment, which is the book value plus the gain. Therefore, $100,000 (book value) + $13,500 (gain) = $113,500.

If a Gain of $13,500 Is Incurred in Selling (For