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Atkins Corporation has provided the following information for the year ended December 31, 2014: • The equipment account balance increased $200,000.
• The equipment accumulated depreciation account increased $35,000.
• 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.
How much was the investing activities cash inflow from the sale of the equipment? Assume that the equipment purchase and sale resulted in cash flows.
Clear Focus
The act or state of concentrating or maintaining a sharp visual or mental clarity.
Ocular Lens
The transparent structure inside the eye that focuses light rays onto the retina to create clear images.
Working Distance
The distance between the objective lens of a microscope and the specimen being observed.
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