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: 1. Delsey incurred a $1,390 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $5,080 (cost of $25,500 minus accumulated depreciation of $20,420) was sold. The income statement showed a gain on the sale of machinery of $4,410. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part b Year 2 $104,100 521,100 141,100 Year 1 $114,800 426,400 92,100 b. Compute the amount of cash flow associated with the purchase of machinery.

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: 1. Delsey incurred a $1,390 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $5,080 (cost of $25,500 minus accumulated depreciation of $20,420) was sold. The income statement showed a gain on the sale of machinery of $4,410. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part b Year 2 $104,100 521,100 141,100 Year 1 $114,800 426,400 92,100 b. Compute the amount of cash flow associated with the purchase of machinery.

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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