Albers Enterprises Uses the Direct Method When Preparing Its Statement

question 49

Multiple Choice

Albers Enterprises uses the direct method when preparing its statement of cash flows. Albers sold equipment with a book value of $51,000 at a gain of $7,000. The amount to be reported on the statement of cash flows under "proceeds from the sale of plant assets" is:

• A)$51,000.
• B)$44,000.
• C)$58,000.
• D)$7,000.

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