Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 19

Use the following balance sheets and income statement to answer


Refer to the data in QS 16-11.
Furniture costing $55,000 is sold at its book value in 2015. Acquisitions of furniture total $45,000 cash, on which no depreciation is necessary because it is acquired at year-end. What is the cash inflow related to the sale of furniture
REFERENCE: QS 16-11


Required
Use the indirect method to prepare the cash provided or used from operating activities section only of the statement of cash flows for this company.