Reference no: EM131756690
The Plant Assets account and Accumulated Depreciation Plant Assets account of Fun Place show the following:
Plant assets
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Beg 83,000 |
Acquisitions 378,000 | 57,000 disposals
end 404,000 |
Accumulated depreciation- Plant Assets
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| 24,000 12/31/2015
Disposals 13,000 | 25,000 depr.exp
| 36,000 12/31/2016
Fun Place sold plant assets at a $17,000 loss. Where on the statement of cash flows should Fun Place report the sale of plant assets? How much should the business report for the sale?
A. Investing cash flows cash receipt of $ 44,000 B. Financing cash flows cash receipt of $ 44,000 C. Investing cash flows receipt of $ 27,000D.Investing cash flows receipt of $ 61,000
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