Give me correct answer and explanation. Required informationExercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3[The following information applies to the questions displayed below.]The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-endbalance sheets:Account TitleInvestment securitiesMachineryLandYear 2$ 105,800525,100142,000Year 1$ 116,300426,20093,800Other information drawn from the accounting records:1. Delsey incurred a $1,090 loss on the sale of investment securities during Year 2.2. Old machinery with a book value of $4,370 (cost of $25,050 minus accumulated depreciation of $20,680) was sold.The income statement showed a gain on the sale of machinery of $4,740.3. Delsey did not sell land during the year.Exercise 12-10A (Algo) Part aRequireda. Compute the amount of cash flow associated with the sale of investment securities.

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.20MCE

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! Required information Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3 [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Exercise 12-10A (Algo) Part c Year 2 $ 102, 100 527,300 143,500 Other information drawn from the accounting records: 1. Delsey incurred a $1,300 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $4,070 (cost of $25,390 minus accumulated depreciation of $21,320) was sold. The income statement showed a gain on the sale of machinery of $4,220. 3. Delsey did not sell land during the year. Amount of cash flow Year 1 $ 112,700 427,100 98,000 c. Compute the amount of cash flow associated with the sale of machinery.
Required Information Exercise 12-10A (Algo) Determining cash flows from Investing activities LO 12-3 [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Other Information drawn from the accounting records: Year 2 $ 104,300 524,400 143,300 1. Delsey Incurred a $1,210 loss on the sale of Investment securities during Year 2. 2. Old machinery with a book value of $4,860 (cost of $25.120 minus accumulated depreciation of $20,260) was sold. The Income statement showed a gain on the sale of machinery of $4,670. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part e e. Prepare the investing activities section of the statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign. DEL SEY COMPANY Statement of Cash Flows (Investing Activities) For the Year…
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5 ! Required information Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3 [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Exercise 12-10A (Algo) Part b Year 2 $ 102,100 527,300 143,500 Other information drawn from the accounting records: 1. Delsey incurred a $1,300 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $4,070 (cost of $25,390 minus accumulated depreciation of $21,320) was sold. The income statement showed a gain on the sale of machinery of $4,220. 3. Delsey did not sell land during the year. Year 1 $ 112,700 427,100 98,000 Cost of machinery purchased b. Compute the amount of cash flow associated with the purchase of machinery. Prev 4 5 6 7 - of 9 Next
of 5 ok t ! Required information Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3 [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Exercise 12-10A (Algo) Part a Year 2 $ 102,100 527,300 143,500 Year 1 $ 112,700 Other information drawn from the accounting records: 1. Delsey incurred a $1,300 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $4,070 (cost of $25,390 minus accumulated depreciation of $21,320) was sold. The income statement showed a gain on the sale of machinery of $4,220. 3. Delsey did not sell land during the year. Amount of cash flow 427,100 98,000 Required a. Compute the amount of cash flow associated with the sale of investment securities. S h
Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3 [The following information applies to the questions displayed below] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Year 2 $101,800 $ 116,900 Year 1 520,300 145,800 425,000 93,800 Other information drawn from the accounting records: 1. Delsey Incurred a $1,340 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $5,000 (cost of $25,530 minus accumulated depreciation of $20,530) was sold. The income statement showed a gain on the sale of machinery of $4,880. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part b b. Compute the amount of cash flow associated with the purchase of machinery. Cost of machinery purchased
Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3 [The following information applies to the questions displayed below) The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account T Investment securities Machinery Land Year 2 $101,000 Year 1 520,300 145,000 $ 116,900 425,000 93,800 Other information drawn from the accounting records: 1. Delsey Incurred a $1,340 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $5,000 (cost of $25,530 minus accumulated depreciation of $20,530) was sold. The income statement showed a gain on the sale of machinery of $4.880. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part b b. Compute the amount of cash flow associated with the purchase of machinery. Cs of machinery pathased
Classifying Items in the Statement of Cash Flows The following items are commonly reported in a statement of cash flows (indirect method presentation). For each item 1 through 20, determine (a) in which section the item is presented (operating, investing, or financing) and (b) whether the associated dollar amount is added or subtracted in the statement. (a) (b) 1. Payments of short-term debt. AnswerOperatingInvestingFinancing AnswerAddSubtract 2. Repurchases of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 3. Purchases of property and equipment. AnswerOperatingInvestingFinancing AnswerAddSubtract 4. Sale of investments classified as long-term. AnswerOperatingInvestingFinancing AnswerAddSubtract 5. Proceeds from the issuance of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 6. Increase in prepaid expenses and other current assets. AnswerOperatingInvestingFinancing AnswerAddSubtract 7. Acquisition for cash of a competitor.…
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Net cash flow from financing activities please
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Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets 2021 At June 30 2020 Assets $ 94,900 96,500 84,800 6,500 282,700 145,000 2$ 65,000 72,000 118,000 9,600 264,600 136,000 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation- Equipment (37,500) (19,500) $ 381,100 $ Total assets 390,200 Liabilities and Equity $ 61,500 19,200 8,000 88,700 81,000 169,700 Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings 46,000 8,100 5,500 59,600 51,000 110,600 262,000 181,000 17,600 $ 390,200 30,400 $ 381,100 Total liabilities and equity IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 $…

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