A Company Sold Equipment with a Book Value of $12,000

question 57

Multiple Choice

A company sold equipment with a book value of $12,000 at a gain of $2500. How much can be reported in the investing activities section of the statement of cash flows as cash received upon the sale of the equipment?

• A)The cash received upon the sale of the equipment is $9500.
• B)The cash received upon the sale of the equipment is $2500
• C)The cash received upon the sale of the equipment is $14,500.
• D)The cash received upon the sale of the equipment is $2500.

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