Carolina Company sold a machine for $14,000 cash, which had an original cost of $30,000 and accumulated depreciation of $6,000. The amount of cash provided by this sale is:

Question

Quizplus · Accepted Answer

The amount of cash provided by the sale is the actual cash received, which is $14,000. The original cost and accumulated depreciation are relevant for calculating the gain or loss on the sale, but they do not affect the cash received.

Carolina Company Sold a Machine for $14,000 Cash, Which Had