Advanced Placement (AP)

Advanced Placement (AP)

Marc

18 April, 17:25

Liberty Industries prepares its statement of cash flows using the direct method. Liberty sold equipment with a book value of $9,000.00 at a gain of $2,500.00. The amount to be reported on the statement of cash flows under investing activities is

A. $2,500.00.

B. $11,500.00.

C. $9,000.00.

D. $6,500.00.

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