Mega Sales sells some of its used store fixtures. The acquisition cost of the fixtures is $13,615, and the accumulated depreciation on these fixtures is $7,004 at the time of sale. The fixtures are sold for $3,356. Determine the amount of cash flows from investing activities on the statement of cash flows. Select the correct answer. $3,356 $6,611 $3,255 $13,615

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 6MC: Ashton Company exchanged a nonmonetary asset with a cost of 30,000 and accumulated depreciation of...
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Mega Sales sells some of its used store fixtures. The acquisition cost of the fixtures is $13,615, and the accumulated depreciation on these fixtures is $7,004 at the time of sale. The fixtures are sold for $3,356. Determine the amount of cash flows from investing activities on the statement of cash flows.

Select the correct answer.

$3,356
$6,611
$3,255
$13,615
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