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During the Year,the Property,Plant and Equipment Account Increased by $25,000

Question 23

Multiple Choice

During the year,the Property,Plant and Equipment account increased by $25,000 and the Accumulated Depreciation account increased by $2,000.In addition,the company sold equipment,which originally cost $12,000 and had $9,000 of accumulated depreciation,for $4,500.What was the cash inflow from the sale of property,plant,and equipmentMoyers Company reported the following in 2014: property,plant and equipment account increased by $25,000;accumulated depreciation account increased by $2,000.During the year,the company sold equipment that originally cost $12,000,and had $9,000 of accumulated depreciation for $4,500. What will Moyers Company report as proceeds from the sale of property,plant,and equipment on its 2014 statement of cash flows?


A) $1,500
B) $4,500
C) $15,500
D) $12,000

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