If a loss of $9,000 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
A) $71,000.
B) $80,000.
C) $89,000.
D) $9,000.

Question

Quizplus · Accepted Answer

The cash flows from investing activities section reports the actual cash received from the sale of the office equipment, which is the book value minus the loss: $80,000 - $9,000 = $71,000.

If a Loss of $9,000 Is Incurred in Selling (For