An analysis of the Marketable Securities control account of Melville Markets, Inc., shows the following entries during the year. Balance, Jan. 1 Debit entries $ 260,000 280,000 (160,000) $ 380,000 Credit entries Balance, Dec. 31 In addition, the company's income statement includes a $35,000 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 Melville Markets, Inc., shows the following entries during the year. Balance, Jan. 1 Debit entries $ 260,000 280,000 (160,000) $ 380,000 Credit entries Balance, Dec. 31 In addition, the company's income statement includes a $35,000 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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