! 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.
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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