If a loss of $20,000 is incurred in selling (for cash) office equipment having a book value of $80,000, 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 would report the cash received from the sale, which is the book value minus the loss: $80,000 - $20,000 = $60,000.

If a Loss of $20,000 Is Incurred in Selling (For