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29-10-2020
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Shively Mfg. Co. sold for $18,000 equipment that cost $40,000 and had a book value of $30,000. Shively would report:

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andromache andromache

30-10-2020

Answer:

Investing cash inflows of $18,000.

Explanation:

Since the equipment is sold for $18,000 so the same is to be considered in the investing section of the cash flow statement. As the investing activities deal in that activities which are related to the purchase and sale of fixed asset where purchase is an outflow of cash and the sale is an inflow of cash

Therefore it is an inflow of cash i.e. $18,000

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