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During 2017, equipment was sold for $57,000. This equipment cost $90,000 and had a book value...

During 2017, equipment was sold for $57,000. This equipment cost $90,000 and had a book value of $47,000. Accumulated depreciation for equipment was $184,000 at 12/31/17 and $147,000 at 12/31/16. Show how the results of the three items will appear on the statement of cash flows using the indirect method from this information.

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Answer #1

Impact on Cash Flows from Operating Activities: Gain on Sale of Equipment ($57000-$47000) = $10,000 will be subtracted from N

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