The following balance sheets are provided for Socrates Foods:
a) b) Socrates Foods recorded the sale of equipment as follows:
How would this transaction be reported in Socrates Foods' statement of cash flows? (Assume the direct method is being used.)

Question

The following balance sheets are provided for Socrates Foods:
  a)  b) Socrates Foods recorded the sale of equipment as follows:
  How would this transaction be reported in Socrates Foods' statement of cash flows? (Assume the direct method is being used.)

Quizplus · Accepted Answer

The Answer of The following balance sheets are provided for Socrates Foods:
  a)  b) Socrates Foods recorded the sale of equipment as follows:
  How would this transaction be reported in Socrates Foods' statement of cash flows? (Assume the direct method is being used.)

The Following Balance Sheets Are Provided for Socrates Foods