Manhattan Corporation provided the following partial list of account balances for Year 2:
The following additional information is also available for Year 2:• The company recognized a gain of $8,000 on sale of land that occurred when land that had cost $16,000 was sold for $24,000. • The company recognized a loss of $10,000 on the sale of marketable securities. • No additional marketable securities were purchased during the year. • The company also sold equipment originally costing $6,000 with accumulated depreciation of $4,000 for $3,600. • All purchases of land and equipment were made with cash.Required: Prepare the investing activities
section of the statement of cash flows.
What will be an ideal response?
Cash inflow from sale of marketable securities = Cost of securities of $20,000 ? Loss on sale of securities of $10,000 = $10,000
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The accumulated benefit obligation (ABO) is equal to the
A) actuarial present value of all benefits earned as of a specified date, both vested and nonvested, by employees using current salary levels in the pension plan formula. B) actuarial present value of all benefits earned as of a specified date, both vested and nonvested, by employees using anticipated future salary levels in the pension plan formula. C) difference between the annual pension expense and the amount actually funded during the year. D) actuarial present value of benefits attributed by the pension plan formula to services rendered by employees during the current year.
The first challenge of human resource planning (HRP) is to devise plans for securing the necessary employees.
Answer the following statement true (T) or false (F)
A statement signed by the required number of witnesses who observe the execution of a valid will is called a(n):
a. validity clause. b. ambulatory clause. c. attestation clause. d. fiduciary clause.
One of the benefits of EDI is that it can reduce lead time, which is
A. the time between when finished goods leave the manufacturer until the time they arrive, floor-ready, at the retailer. B. the time from when an RFP is announced to the time a consumer purchases the finished product. C. the time from when funds are committed for purchase of raw materials to the time when the payment for the finished goods is actually received. D. the time between the decision to place an order and the receipt of the merchandise. E. the time between when an item is sold to a customer and when a replacement is made available for purchase by another customer.