11/29/23, 12:33 PM
Question 94 of 100 - Quiz Two
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Cullumber Ltd. sold equipment during calendar 2023 for $29000 cash. The original cost of the
equipment was $69450, and the accumulated depreciation to the date of sale was $36900. This
transaction should be shown on Cullumber’ 2023 statement of cash ±ows (indirect method) as
a(n)
addition to net income of $3550 and a $29000 cash in±ow from investing activities.
deduction from net income of $3550 and a $29000 cash in±ow from investing
activities.
deduction from net income of $3550 and a $32550 cash in±ow from investing
activities.
addition to net income of $3550 and a $29000 cash in±ow from ²nancing activities.
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