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:

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:

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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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:
Multiple Choice
$46,600.
$6,600.
$21,000.
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