Seldon Corporation sold a piece of equipment for cash.The sale generated a gain of $10,000 and the equipment originally cost $50,000 and at the time of the sale had accumulated depreciation of $45,000.How much cash was generated by sale and in what section would the cash be reported on the statement of cash flows?

Question

Quizplus · Accepted Answer

The Answer of Seldon Corporation sold a piece of equipment for cash.The sale generated a gain of $10,000 and the equipment originally cost $50,000 and at the time of the sale had accumulated depreciation of $45,000.How much cash was generated by sale and in what section would the cash be reported on the statement of cash flows?

Seldon Corporation Sold a Piece of Equipment for Cash