Solution-Old machinery with a book value

Old machinery with a book value

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Reference no: EM13918309

The following accounts and corresponding balances were drawn from Delsey Company's 2014 and 2013 year end balance sheets:

1132_264-B-M-A-S-C-F (2009).png

Other information drawn from the accounting records:

1. Delsey incurred a $6,000 loss on the sale of investment securities during 2014.

2. Old machinery with a book value of $8,000 (cost of $36,000 minus accumulated depreciation of $28,000) was sold. The income statement showed a gain on the sale of machinery of $4,500.

3. Delsey did not sell land during the year.

Required:

a. Compute the amount of cash flow associated with the sale of investment securities.

b. Compute the amount of cash flow associated with the purchase of machinery.

c. Compute the amount of cash flow associated with the sale of machinery.

d. Compute the amount of cash flow associated with the purchase of land.

e. Prepare the investing activities section of the statement of cash flows.

Reference no: EM13918309

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Old machinery with a book value

Reference no: EM13918309

Reference no: EM13918309

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