Chorba Chocolates had the following account balances on its balance sheets at December 31,2012 and 2011,respectively: $$\begin{array} { l l l }
& \underline { 1233112 } & \underline { 12 / 31 / 12 } \
\text { Fixed Assets } & 480,000 & \$ 67,000 \
\text { Accumulated Depreciation } & 44,000 & 39,000
\end{array}$$ Depreciation expense for 2012 was $7,000.There were no gains or losses on the 2012 income statement.One fixed asset with an original cost of $8,000 was sold during 2012.What was the cash flow associated with the acquisition of fixed assets by Chorba Chocolates in 2012?
A)$(2,000)
B)$(8,000)
C)$(14,000)
D)$(13,000)
E)$(21,000)

Question

Chorba Chocolates had the following account balances on its balance sheets at December 31,2012 and 2011,respectively: $$\begin{array} { l l l } 
& \underline { 1233112 } & \underline { 12 / 31 / 12 } \
\text { Fixed Assets } & 480,000 & \$ 67,000 \
\text { Accumulated Depreciation } & 44,000 & 39,000
\end{array}$$ Depreciation expense for 2012 was $7,000.There were no gains or losses on the 2012 income statement.One fixed asset with an original cost of $8,000 was sold during 2012.What was the cash flow associated with the acquisition of fixed assets by Chorba Chocolates in 2012?
A)$(2,000)
B)$(8,000)
C)$(14,000)
D)$(13,000)
E)$(21,000)

Quizplus · Accepted Answer

The Answer of Chorba Chocolates had the following account balances on its balance sheets at December 31,2012 and 2011,respectively: $$\begin{array} { l l l } 
& \underline { 1233112 } & \underline { 12 / 31 / 12 } \
\text { Fixed Assets } & 480,000 & \$ 67,000 \
\text { Accumulated Depreciation } & 44,000 & 39,000
\end{array}$$ Depreciation expense for 2012 was $7,000.There were no gains or losses on the 2012 income statement.One fixed asset with an original cost of $8,000 was sold during 2012.What was the cash flow associated with the acquisition of fixed assets by Chorba Chocolates in 2012?
A)$(2,000)
B)$(8,000)
C)$(14,000)
D)$(13,000)
E)$(21,000)

Chorba Chocolates Had the Following Account Balances on Its Balance