Solution-Prepare the investing activities section for

Prepare the investing activities section for mechanic inc

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Reference no: EM133090470

Question - Mechanic, Inc. reported net income of $88,000 for the year ended December 31, 2021 Included in net income were depreciation expense of $16,800 and a gain on sale of equipment of $3,400. The equipment had an historical cost of $80,000 and accumulated depreciation of $48,000. Each of the following accounts increased during 2021:

Land $11,000

Prepaid rent $13,600

Available-for-sale securities $2,000

Bonds payable $10,000

Required - Prepare the investing activities section for Mechanic, Inc. for the year ended December 31, 2021?

Reference no: EM133090470

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Prepare the investing activities section for mechanic inc

Reference no: EM133090470

Reference no: EM133090470

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