Marvin Industries owns a piece of equipment with a cost of $78,000 and accumulated depreciation of $51,000.The equipment is sold for $30,000 cash.The amount that should be reported as a cash inflow from investing activities is:
A)$30,000.
B)$3,000.
C)$27,000.
D)$0;this transaction is a financing activity.

Question

Quizplus · Accepted Answer

The cash inflow from investing activities is the $30,000 cash received from the sale of the equipment.

Marvin Industries Owns a Piece of Equipment with a Cost