Atkins Corporation Has Provided the Following Information for the Year

question 53

Multiple Choice

Atkins Corporation has provided the following information for the year ended December 31,2019: • The equipment account balance increased by $200,000 from the beginning of the year to the end of the year.
• The equipment accumulated depreciation account balance increased by $35,000 from the beginning of the year to the end of the year.
• Equipment costing $50,000 was sold during the year resulting in a $10,000 gain.
• Depreciation expense recorded on the equipment during the year was $65,000.
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What was the amount of the investing activities cash inflow from the sale of the equipment? Assume that the equipment purchase and sale resulted in cash flows.

• A)$30,000.
• B)$60,000.
• C)$40,000.
• D)$50,000.

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Definitions:

Sales Presentation Goal Model

A structured approach to craft sales presentations with clear objectives in mind, such as informing, persuading, or solving a customer's problem.

Competitive Product

A product that competes in the same market as others by offering similar or better features, quality, or price to attract customers.

Suggestive Proposition

A sales technique that involves making recommendations or suggestions to guide potential customers towards making a purchase decision.

Logical Reasoning

The method of employing a logical, orderly sequence of actions relying on solid mathematical methods and provided assertions to reach a determination.