Chorba Chocolates Had the Following Account Balances on Its Balance

question 64

Multiple Choice

Chorba Chocolates had the following account balances on its balance sheets at December 31,2012 and 2011,respectively: $\begin{array} { l c c } & \underline { 12 / 31/12 }& \underline { 12 / 31/11 }\\\text { Fixed Assets } &\$ 80,000 & \$ 67,000 \\\text { Accumulated Depreciation } & 44,000 & 39,000 \\\end{array}$ Depreciation expense for 2012 was $7,000.There were no gains or losses on the 2012 income statement.One fixed asset with an original cost of $8,000 was sold during 2012.What would be the net cash flow from investing activities for Chorba Chocolates in 2012?

• A)($2,000)
• B)($8,000)
• C)($13,000)
• D)($15,000)
• E)($21,000)

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