Maverick Co. sold equipment with a cost of $30,000 and accumulated depreciation of $12,000 for an amount that resulted in a gain of $4,000. What amount should Maverick report on the statement of cash flows as "proceeds from sale of plant assets"?
| Click Here to View All Chapter 11 Problems at Once | View | ||
| 1 | Depreciation in Indirect Cash Flows | Easy | |
| 2 | Investing Activity Classification | Easy | |
| 3 | Operating Activities, Indirect Method | Easy | |
| 4 | Cash Flows and Gains | Moderate | |
| 5 |
Gain on Sale of Equipment
You are here. |
Moderate | |
| 6 | Investing vs Financing | Moderate | |
| 7 | Comprehensive Cash Flow | Hard |
| 1 | Cash Flow Overview | 6:02 | |
| 2 | Operating Cash Flows | 18:41 | |
| 3 | Indirect Method | 14:26 | |
| 4 | Investing Cash Flows | 5:14 | |
| 5 | Financing Cash Flows | 3:17 | |
| 6 | Depreciation in Cash Flows | 5:50 | |
| 7 | PPE for Cash Flows | 2:39 | |
| 8 | Bringing it All Together | 13:57 |