If a gain of $12000 is incurred in selling (for cash) office equipment having a book value of $110000 the total amount reported in the cash flows from investing activities section of the statement of cash flows is
A) $98000.
B) $122000.
C) $110000.
D) $12000.

Question

Quizplus · Accepted Answer

The cash inflow from the sale of office equipment is $110,000 + $12,000 gain = $122,000. This amount is reported under the cash flows from investing activities section of the statement of cash flows.

If a Gain of $12000 Is Incurred in Selling (For