Dover Co'S Comparative Balance Sheet Indicated That the Equipment Account Increased

question 68

Multiple Choice

Dover Co.'s comparative balance sheet indicated that the Equipment account increased by $40,000.Upon further investigation of the account changes,it is determined that Dover purchased equipment totaling $70,000 for the year.It also sold equipment with an original cost of $30,000 for $8,000 cash.Assuming these are the only transactions affecting the investing activities,Dover will report net cash flows provided by (used in) investing activities of:

• A) ($40,000).
• B) ($70,000).
• C) ($32,000).
• D) ($62,000).