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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

Manhattan Corporation Provided the Following Partial List of Account Balances