Cartman's Cats sells one of their delivery trucks with proceeds of $5,000 and a gain of $3,000. How much is reported on the statement of cash flows under cash from investing activities?

Question

Quizplus · Accepted Answer

$5,000. The proceeds from the sale will be reported on the statement of cash flows under cash from investing activities.
Key Takeaway: The proceeds from the sale of a long term asset are reported under cash from investing activities on the statement of cash flows.

Cartman's Cats Sells One of Their Delivery Trucks with Proceeds