The information below was provided by Longo Company for the current year:

During the year, Longo sold equipment with a cost of $25,000 and accumulated depreciation of $19,000. A loss of $1,000 was recognized on the sale of the equipment.
Prepare the investing activities section of the statement of cash flows for the year.

Question

The information below was provided by Longo Company for the current year:
  
During the year, Longo sold equipment with a cost of $25,000 and accumulated depreciation of $19,000. A loss of $1,000 was recognized on the sale of the equipment.
Prepare the investing activities section of the statement of cash flows for the year.

Quizplus · Accepted Answer

The Answer of The information below was provided by Longo Company for the current year:
  
During the year, Longo sold equipment with a cost of $25,000 and accumulated depreciation of $19,000. A loss of $1,000 was recognized on the sale of the equipment.
Prepare the investing activities section of the statement of cash flows for the year.

The Information Below Was Provided by Longo Company for the Current