An analysis of the Marketable Securities control account of Fancher Products, Inc., shows the following entries during the year. Balance, Jan. 1 $ 290,000 Debit entries 125,000 Credit entries (140,000) $ 275,000 Balance, Dec. 31 In addition, the company's income statement includes a $25,000 loss on sales of marketable securities. None of the company's marketable securities is considered a cash equivalent. Compute the amounts that should appear in the statement of cash flows as: a. Purchases of marketable securities. b. Proceeds from sales of marketable securities.
An analysis of the Marketable Securities control account of Fancher Products, Inc., shows the following entries during the year. Balance, Jan. 1 $ 290,000 Debit entries 125,000 Credit entries (140,000) $ 275,000 Balance, Dec. 31 In addition, the company's income statement includes a $25,000 loss on sales of marketable securities. None of the company's marketable securities is considered a cash equivalent. Compute the amounts that should appear in the statement of cash flows as: a. Purchases of marketable securities. b. Proceeds from sales of marketable securities.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ACCT 102
Transcribed Image Text:An analysis of the Marketable Securities control account of Fancher Products, Inc., shows the following entries during the year.
Balance, Jan. 1
$ 290,000
125,000
Debit entries
Credit entries
(140,000)
Balance, Dec. 31
$ 275,000
In addition, the company's income statement includes a $25,000 loss on sales of marketable securities. None of the company's
marketable securities is considered a cash equivalent.
పెటం:
Compute the amounts that should appear in the statement of cash flows as:
a. Purchases of marketable securities.
b. Proceeds from sales of marketable securities.
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