A machine with a cost of $156,000, accumulated depreciation of $98,000, and current year depreciation expense of $23,500 is sold for $50,400 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
A. $24,100.
B. $50,400.
C. $47,600.
D. $7600.
E. $23,500.
Answer: B
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On January 2, 2016, Lawn Master Construction, Inc issued $500,000, 10-year bonds for $574,540 . The bonds pay interest on June 30 and December 31 . The face rate is 8% and the market rate is 6%. What is the carrying value of the bonds at the end of ten years before the final maturity payment is made?
a. $574,540 b. $525,000 c. $500,000 d. $425,460
Abolition of the privity limitation opened the door for negligence as a theory of liability when people were injured because of a product manufacturer's or seller's lack of care
Indicate whether the statement is true or false
Daniel is the CEO of CookRite, a company manufacturing kitchen appliances. The company has been in business for the past ten years and sales were steadily increasing until six months ago, when there was a significant decrease. Though Daniel held a number of meetings with the top management of the company, he did not make any changes in the management techniques and did not blame managers for the drop in sales. Which of the following, if true, would indicate that Daniel was wrong in his approach?
A. CookRite's competitors saw a similar drop in sales over the same period. B. A new competitor entered the market six months ago, and sold products below cost to gain market share. C. Demand for kitchen appliances has increased significantly over the past year. D. The price of technology used in kitchen appliances fell and CookRite subsequently reduced its prices.
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What will be an ideal response?