The accounting records of Calli Inc indicate that the firm sold for $1,800 during Year 2 a machine originally costing $6,000, with accumulated depreciation of $4,600 . The journal entry made to record this sale was as follows: Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1,800 Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . 4,600
Loss on Disposal of Equipment . . . . . . . . . . . . . . . . . . . . 400 Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000 In preparing the statement of cash flows using the work sheet, the accountant.
a. adds the $400 loss to net income in computing cash flow from operations.
b. subtracts the $400 loss from net income in computing cash flow from operations.
c. adds the $400 loss to net income in computing cash flow from investing activities.
d. subtracts the $400 loss from net income in computing cash flow investing activities.
e. subtracts the $400 loss from retained earnings in computing cash flow investing activities.
A
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