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Equipment which cost $215,000 and had accumulated depreciation of $115,000 was sold for $111,000. This...

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Accounting

Equipment which cost $215,000 and had accumulated depreciation of $115,000 was sold for $111,000. This transaction should be shown on the statement of cash flows (indirect method) as a(n)

addition to net income of $11,000 and a $111,000 cash inflow from financing activities.

deduction from net income of $11,000 and a $111,000 cash inflow from investing activities.

deduction from net income of $11,000 and a $99,000 cash inflow from investing activities.

addition to net income of $11,000 and a $99,000 cash inflow from financing activities. 28 Veteri Company had equipment that cost $525,000 and book value of $234,000 that was sold for $270,000. Data from the comparative balance sheets for Veteri Company are as follows: 12/31/16 12/31/15 Equipment $3,240,000 $2,925,000 Accumulated Depreciation 990,000 855,000 Depreciation expense for 2016 was a. $81,000. b. $54,000. c. $462,000. *d. $426,000.

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