If a gain of $45,000 is incurred in selling (for cash) office equipment having a book value of $180,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
A) $135,000.
B) $180,000.
C) $225,000.
D) $45,000.

Question

Quizplus · Accepted Answer

The cash received from the sale is the book value plus the gain, which is $180,000 + $45,000 = $225,000.

If a Gain of $45,000 Is Incurred in Selling (For