If a gain of $15,000 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 gain of $15,000 is incurred in the sale of office equipment, which falls under cash flows from investing activities. The total amount reported in this section would be the cash received from the sale, which is $115,000 ($100,000 book value + $15,000 gain). Therefore, option B is the correct answer.

If a Gain of $15,000 Is Incurred in Selling (For