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The following information was drawn from the year-end balance sheets of Adams Trading Company: Account Title Year 1 Year 2 Investment $ 36,800 $ 27,700 securities Equipment Buildings 234,000 850,000 96,500 207,000 953,000 51,500 Land Additional information regarding transactions occurring during Year 2: 1. Investment securities that had cost $5,780 were sold. The Year 2 income statement contained a loss on the sale of investment securities of $690. 2. Equipment with a cost of $47,500 was purchased. 3. The income statement showed a gain on the sale of equipment of $6,400. On the date of sale, accumulated depreciation on the equipment sold amounted to $8,500. 4. A building that had originally cost $169,500 was demolished. 5. Land that had cost $26,500 was sold for $21,500. Required a. Determine the amount of cash flow for the purchase of investment securities during Year 2. b. Determine the amount of cash flow from the sale of investment securities during Year 2 c. Determine the cost of the equipment that was sold during Year 2 d. Determine the amount of cash flow from the sale of equipment during Year 2 e. Determine the amount of cash flow for the purchase of buildings during Year 2 f. Determine the amount of cash flow for the purchase of land during Year 2 g. Prepare the investing activities section of the Year 2 statement of cash flows. Complete this question by entering your answers in the tabs below. Req A to Req G F Determine the amount of cash flow for the purchase of investment, sale of investment, cost of the equipment that was sold, sale of equipment, purchase of buildings and purchase of land during Year 2. Cash flow for the purchase of а. investment securities Cash flow from the sale of investment securities c. Cost of the equipment sold Cash flow from the sale of d. equipment Cash flow for the purchase of е. buildings f. Cash flow for the purchase of land Req G Req A to F

The following information was drawn from the year-end balance sheets of Adams Trading Company: Account Title Year 1 Year 2 Investment $ 36,800 $ 27,700 securities Equipment Buildings 234,000 850,000 96,500 207,000 953,000 51,500 Land Additional information regarding transactions occurring during Year 2: 1. Investment securities that had cost $5,780 were sold. The Year 2 income statement contained a loss on the sale of investment securities of $690. 2. Equipment with a cost of $47,500 was purchased. 3. The income statement showed a gain on the sale of equipment of $6,400. On the date of sale, accumulated depreciation on the equipment sold amounted to $8,500. 4. A building that had originally cost $169,500 was demolished. 5. Land that had cost $26,500 was sold for $21,500. Required a. Determine the amount of cash flow for the purchase of investment securities during Year 2. b. Determine the amount of cash flow from the sale of investment securities during Year 2 c. Determine the cost of the equipment that was sold during Year 2 d. Determine the amount of cash flow from the sale of equipment during Year 2 e. Determine the amount of cash flow for the purchase of buildings during Year 2 f. Determine the amount of cash flow for the purchase of land during Year 2 g. Prepare the investing activities section of the Year 2 statement of cash flows. Complete this question by entering your answers in the tabs below. Req A to Req G F Determine the amount of cash flow for the purchase of investment, sale of investment, cost of the equipment that was sold, sale of equipment, purchase of buildings and purchase of land during Year 2. Cash flow for the purchase of а. investment securities Cash flow from the sale of investment securities c. Cost of the equipment sold Cash flow from the sale of d. equipment Cash flow for the purchase of е. buildings f. Cash flow for the purchase of land Req G Req A to F

FINANCIAL ACCOUNTING
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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The following information was drawn from the year-end balance sheets of Adams Trading Company: Account Title Year 1 Year 2 Investment $ 36,800 $ 27,700 securities Equipment Buildings 234,000 850,000 96,500 207,000 953,000 51,500 Land Additional information regarding transactions occurring during Year 2: 1. Investment securities that had cost $5,780 were sold. The Year 2 income statement contained a loss on the sale of investment securities of $690. 2. Equipment with a cost of $47,500 was purchased. 3. The income statement showed a gain on the sale of equipment of $6,400. On the date of sale, accumulated depreciation on the equipment sold amounted to $8,500. 4. A building that had originally cost $169,500 was demolished. 5. Land that had cost $26,500 was sold for $21,500. Required a. Determine the amount of cash flow for the purchase of investment securities during Year 2. b. Determine the amount of cash flow from the sale of investment securities during Year 2 c. Determine the cost of the equipment that was sold during Year 2 d. Determine the amount of cash flow from the sale of equipment during Year 2 e. Determine the amount of cash flow for the purchase of buildings during Year 2 f. Determine the amount of cash flow for the purchase of land during Year 2 g. Prepare the investing activities section of the Year 2 statement of cash flows. Complete this question by entering your answers in the tabs below. Req A to Req G F Determine the amount of cash flow for the purchase of investment, sale of investment, cost of the equipment that was sold, sale of equipment, purchase of buildings and purchase of land during Year 2. Cash flow for the purchase of а. investment securities Cash flow from the sale of investment securities c. Cost of the equipment sold Cash flow from the sale of d. equipment Cash flow for the purchase of е. buildings f. Cash flow for the purchase of land Req G Req A to F
Transcribed Image Text:The following information was drawn from the year-end balance sheets of Adams Trading Company: Account Title Year 1 Year 2 Investment $ 36,800 $ 27,700 securities Equipment Buildings 234,000 850,000 96,500 207,000 953,000 51,500 Land Additional information regarding transactions occurring during Year 2: 1. Investment securities that had cost $5,780 were sold. The Year 2 income statement contained a loss on the sale of investment securities of $690. 2. Equipment with a cost of $47,500 was purchased. 3. The income statement showed a gain on the sale of equipment of $6,400. On the date of sale, accumulated depreciation on the equipment sold amounted to $8,500. 4. A building that had originally cost $169,500 was demolished. 5. Land that had cost $26,500 was sold for $21,500. Required a. Determine the amount of cash flow for the purchase of investment securities during Year 2. b. Determine the amount of cash flow from the sale of investment securities during Year 2 c. Determine the cost of the equipment that was sold during Year 2 d. Determine the amount of cash flow from the sale of equipment during Year 2 e. Determine the amount of cash flow for the purchase of buildings during Year 2 f. Determine the amount of cash flow for the purchase of land during Year 2 g. Prepare the investing activities section of the Year 2 statement of cash flows. Complete this question by entering your answers in the tabs below. Req A to Req G F Determine the amount of cash flow for the purchase of investment, sale of investment, cost of the equipment that was sold, sale of equipment, purchase of buildings and purchase of land during Year 2. Cash flow for the purchase of а. investment securities Cash flow from the sale of investment securities c. Cost of the equipment sold Cash flow from the sale of d. equipment Cash flow for the purchase of е. buildings f. Cash flow for the purchase of land Req G Req A to F
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