Atkins Corporation Has Provided the Following Information for the Year

question 87

Multiple Choice

Atkins Corporation has provided the following information for the year ended December 31, 2016: • The equipment account balance increased by $200,000 from the beginning of the year to the end of the year.
• The equipment accumulated depreciation account balance increased by $35,000 from the beginning of the year to the end of the year.
• Equipment costing $50,000 was sold during the year resulting in a $10,000 gain.
• Depreciation expense recorded on the equipment during the year was $65,000.
Atkins Corporation has provided the following information for the year ended December 31, 2016:
• The equipment account balance increased $200,000.
• The equipment accumulated depreciation account increased $35,000.
• Equipment costing $50,000 was sold during the year resulting in a $10,000 gain.
• Depreciation expense recorded on the equipment during the year was $65,000.
What was the amount of the investing activities cash inflow from the sale of the equipment? Assume that the equipment purchase and sale resulted in cash flows.

• A)$30,000.
• B)$60,000.
• C)$40,000.
• D)$50,000.

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Definitions:

Drives

Internal motivational states that compel individuals to engage in particular behaviors to satisfy specific needs.

Employee Motivation

The level of enthusiasm, energy, and commitment that employees bring to their job, which can significantly affect their performance and productivity.

Feedback Strategy

A method or plan for providing constructive criticism and suggestions to improve performance.

Sales Representatives

Individuals who sell products or services on behalf of a company, often directly to customers.