If Wildhorse Co. realizes a loss of $9700 on a cash sale of office equipment having...
If Wildhorse Co. realizes a loss of $9700 on a cash sale of office equipment having a book value of $97200, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
$87500.
$9700.
$97200.
$106900.
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Homework Answers
Since there is a loss on sale of equipment;sale proceeds would be less than book value of equipment.
Hence sale proceeds=97200-9700
=$87500
Hence cash flow from investing activities=sale proceeds
=$87500
NOTE:Loss on such sale would be reported in cash flow from operating activities.
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