Albers Enterprises Uses the Direct Method When Preparing Its Statement

question 4

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

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