Team Shirts,Inc.sold a piece of equipment for $13,400.The book value of the equipment was $14,000.The original cost of the equipment was $19,000.A loss on the sale of $600 was reported.The amount of cash reported on the statement of cash flows was ________.

Question

Quizplus · Accepted Answer

The amount of cash reported on the statement of cash flows would be the same as the amount received from the sale of the equipment, which is $13,400. The loss of $600 would be included on the income statement, but it doesn't directly impact the cash flow. Therefore, the net cash inflow would be $13,400.