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Martin Ceramics Company sold equipment for cash. The income statement shows a gain on the sale of ...

Martin Ceramics Company sold equipment for cash. The income statement shows a gain on the sale of $920. The net book value of the asset was $3,610. Which of the following statements describes the cash effect of the transaction?
A) negative cash flow of $4,530 for financing activities
B) negative cash flow of $2,690 for operating activities
C) positive cash flow of $4,530 from investing activities
D) positive cash flow of $2,690 from investing activities

Textbook

Horngren's Accounting

Edition: 11^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 54 times

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More solutions for this book are available here

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