Question

a machine with a cost of $146,000, accumulated depreciation of $93,000, and current year depreciation expense of $21,000 is sold for $46,400 cash. the amount that should be reported as a source of cash under cash flows from investing activities is:

Answer 1

The amount that should be reported as a source of cash under cash flows from investing activities is $46,400.

Cash can be meant as a value or price that is paid directly. Sometimes it also contain the number of assets that can be easily converted into cash immediately, as reported by a corporation. From the scenario we were informed that a cost of machine is $146,000, current year depreciation expense of $21,000 that is sold for $46,400 cash.

Cash by sale of Equipment is = sold cash = $46,400

Hence, we can say that the value that should be report as a source of the cash under cash flow by investing activities is $46,400.

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