Apple Inc. has an equipment with accumulated depreciation of $200,000 as on December 31, 2016. The equipment was purchased on January 1, 2015 for $500,000. On December 31, the equipment is sold for $350,000. How would this sale of equipment be reported on statement of cash flows? a. Operating activities +$50,000, Investing activities +$300,000 b. Operating activities +$50,000, Investing activities +$350,000 c. Operating activities +$50,000, Investing activities +$500,000 d. Operating activities -$50,000, Investing activities +$350,000

Apple Inc. has an equipment with accumulated depreciation of $200,000 as on December 31, 2016. The equipment was purchased on January 1, 2015 for $500,000. On December 31, the equipment is sold for $350,000. How would this sale of equipment be reported on statement of cash flows? a. Operating activities +$50,000, Investing activities +$300,000 b. Operating activities +$50,000, Investing activities +$350,000 c. Operating activities +$50,000, Investing activities +$500,000 d. Operating activities -$50,000, Investing activities +$350,000

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 15E

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