The Plant Assets account and Accumulated Depreciation long dash Plant Assets account of Vacation Club show the following: Vacation Club sold plant assets at a $ 18,000 loss. Where on the statement of cash flows should Vacation Club report the sale of plant assets? How much should the business report for the sale?
Plant Assets
Beg 86,000 |
acquistions 432,000 | 54500 Disposals
end 463,500 |
Accumulated Deprecitaion- Plant Assets
| 21,500 12/06/2015
Disposals 14,000 | 29,000 Depr. Exp
| 36,500 12/06/2016
A.Investing cash flows- cash receipt of $ 40,500B.Investing cash flows-cash receipt of $ 58,500C.Investing cash flows-cash receipt of $ 22,500D.Financing cash flows-receipt of $ 40,500