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What will be disclosed for cash received from the sale

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Reference no: EM132873056

Question - The information below was provided by Rhino Company for 2021 and 2020:

Equipment, December 31, 2020 $275,000

Equipment, December 31, 2021 $250,000

Accumulated depreciation, December 31, 2020 $150,000

Accumulated depreciation, December 31, 2021 $180,000

During 2021, Rhino sold equipment with a cost of $85,000 and accumulated depreciation of $60,000. A gain of $10,000 was recognized on the sale of the equipment.

Required - What will be disclosed for cash received from the sale of equipment on the Statement of Cash Flows for the fiscal year ending December 31, 2021.

Reference no: EM132873056

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