! 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 Year 2 $ 105,800 525,100 142,000 Year 1 $ 116,300 426,200 93,800 Other 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 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.
! 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 Year 2 $ 105,800 525,100 142,000 Year 1 $ 116,300 426,200 93,800 Other 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 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Manji
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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
Year 2
$ 105,800
525,100
142,000
Year 1
$ 116,300
426,200
93,800
Other 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 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fafd3ce9f-dbe7-43fc-81fd-816754df16ec%2Fd2b5d18a-a24c-4042-a52e-c8ef4785d51d%2F6jjkwx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
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
Year 2
$ 105,800
525,100
142,000
Year 1
$ 116,300
426,200
93,800
Other 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 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.
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