During the current year,ABC Corporation purchased land for $40,000.ABC also sold equipment with a book value of $2,000 for $10,000.What amount is reported in ABC's investing section of its statement of cash flows?
A) $0
B) $30,000 net cash used by investing activities
C) $38,000 net cash provided by investing activities
D) $38,000 net cash used by investing activities

Question

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The Answer of During the current year,ABC Corporation purchased land for $40,000.ABC also sold equipment with a book value of $2,000 for $10,000.What amount is reported in ABC's investing section of its statement of cash flows?
A) $0
B) $30,000 net cash used by investing activities
C) $38,000 net cash provided by investing activities
D) $38,000 net cash used by investing activities

During the Current Year,ABC Corporation Purchased Land for $40,000