If Cheyenne Corp. realizes a gain of $87000 on a cash sale of equipment having a...
If Cheyenne Corp. realizes a gain of $87000 on a cash sale of equipment having a book value of $648000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
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$735000. |
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$648000. |
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$561000. |
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$87000. 1-4-7 |
Homework Answers
Gain on sale of equipment = $87,000
Book value of equipment = $648,000
Cash received from sale of equipment = Book value of equipment + Gain on sale of equipment
= 648,000 + 87,000
= $735,000
The total amount reported in the cash flows from investing activities section of the statement of cash flows = $735,000
First option is correct.
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