Charlene Company sold a printer with a cost of $68,000 and accumulated depreciation of $23,000 for $20,000 cash. This transaction would be reported as:
A)An operating activity.
B)An investing activity.
C)A financing activity.
D)None of these.

Question

Quizplus · Accepted Answer

This transaction involves the sale of a fixed asset, which is an investing activity. The cost and accumulated depreciation are not relevant for the reporting of this transaction.

Charlene Company Sold a Printer with a Cost of $68,000