Utah Corporation Reports the Following Data Depreciation Expense for the Year Ending December 31,2015 Is $27

question 115

Multiple Choice

Utah Corporation reports the following data:
$\begin{array}{lll}&12/31/14&12/31/15\\\text { Fixed Assets } & \$ 330 & \$ 581 \\\text { Less: Accumulated Depreciation } &{(110) } &(127) \\\text { Net Fixed Assets } &{\$ 220}&{\$ 454} \\\end{array}$
Depreciation expense for the year ending December 31,2015 is $27.The company sold a fixed asset for $10 cash on December 1,2015.The cost of the fixed asset sold was $20 and the accumulated depreciation on the fixed asset sold was $10.What is the net cash flow from investing activities for the year ending December 31,2015?

• A) $241 cash outflow
• B) $251 cash outflow
• C) $261 cash outflow
• D) $271 cash outflow

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