Sonesta Farm Equipment Company sold equipment for cash. The income statement shows a loss on the sale of $9,000. The net book value of the asset was $30,900. Which of the following statements describes the cash effect of the transaction?
A. positive cash flow of $39,900 from financing activities
B. negative cash flow of $21,900 for operating activities
C. negative cash flow of $21,900 for financing activities
D. positive cash flow of $21,900 from investing activitie
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Sonesta Farm Equipment Company sold equipment for cash. The income statement shows a loss on the sale of $9,000. The net book value of the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year and that real GDP per capita of China is $4,000, and its annual growth rate is 7%.
Answers (1)
Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. Long-run economic growth is unlikely to be sustainable because of finite natural resources.
Answers (1)
You have a better chance at success in the business world when your interest and personality match the career choice. True False
Answers (2)
With respect to income from services, which of the following is true? a. The income is always amortized over the period the services will be rendered by an accrual basis taxpayer. b.
Answers (1)
Which diversification strategy is based on the idea that the company creates value by applying the distinctive competencies it developed in one line of business to another business activity?
Answers (1)
New Questions in Business
Jenna composes an email from home to her boss to inform him that she will be late getting to work that day. The act of composing an email involves which stage of the communication process? a. Selecting a channelb. Sifting through noisec.
Answers (2)
What is a common axiom for information technology professionals?
Answers (1)
Reda is looking for a home equity loan. What factors should she look at when deciding which loan is best for her/11984163/ea85bca1? utm_source=registration
Answers (1)
A $1,000 par value bond was issued 25 years ago at a 12 percent coupon rate. It currently has 15 years remaining to maturity. Interest rates on similar obligations are now 10 percent. Assume Ms.
Answers (2)
If the Fed purchases government securities from a commercial bank, which of the following will happen? a. The Fed will increase the bank's reserves on deposit at the Fed. b. The Fed will decrease the bank's reserves on deposit at the Fed. c.
Answers (1)