Old Equipment Having a Book Value of $12,000 Was Sold

question 108

Multiple Choice

Old equipment having a book value of $12,000 was sold for $10,000 cash. New equipment was purchased for $25,000 cash. Additional equipment was acquired in exchange for a $17,000 long- term note payable. The cash flow from investing activities was:

• A) $(13,000)
• B) $(32,000)
• C) $(30,000)
• D) $(15,000)

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