On December 1, 203, Harry Gryffindor of Harry's Pottery, Inc. sold...

60.1K

Verified Solution

Question

Accounting

image
On December 1, 203, Harry Gryffindor of Harry's Pottery, Inc. sold a kiln to Rowena Ravencroft for $44,000 cash. The original cost of the kiln was $140,000, and had accumulated depreciation of $90,000 at the end of 202. Depreciation expense for the 11 months in 203 was $19,500. What amount should be reported as a source of cash under cash flows from investing activities

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students