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Assoli18 [71]
3 years ago
7

A machine with a cost of $144,000, accumulated depreciation of $92,000, and current year depreciation expense of $20,500 is sold

for $45,600 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
Business
1 answer:
Ghella [55]3 years ago
7 0

Answer:

$45,600

Explanation:

Only cash entries are reported into the cash flow report.

Thus we only report $45,600 cash into “Sale of assets” of investing activities.

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Promissory estoppel was created to protect parties under contract from incurring damages due to backing off by the other party. Here, Suzy can sue George on the basis of promissory estoppel.

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