Comparison of cash flows and accrual basis
Underhill Corporation's statement of cash flows for 2009 shows the following information regarding investing activities:
$$\begin{array} { | l | l | }
\hline \text { Purchases of marketable securities } & \$ ( 1,518,000 ) \
\hline \text { Proceeds from sale of marketable securities } & 811,000 \
\hline \text { Proceeds from sale of land } & \underline { 425,000 } \
\hline \text { Net cash used by investing activities } & \underline { \$ ( 282,000 ) } \
\hline
\end{array}$$
Underhill Corporation's income statement for 2009 includes the following items:
$$\begin{array} { | l | l | }
\hline \text { Loss on sale of marketable securities } & \$ 157,000 \
\hline \text { Gain on sales of land } & \$ 179,000 \
\hline
\end{array}$$
(a) All payments and proceeds relating to these transactions were in cash. Using this information, compute the following:

Question

Comparison of cash flows and accrual basis
Underhill Corporation's statement of cash flows for 2009 shows the following information regarding investing activities:
$$\begin{array} { | l | l | } 
\hline \text { Purchases of marketable securities } & \$ ( 1,518,000 ) \
\hline \text { Proceeds from sale of marketable securities } & 811,000 \
\hline \text { Proceeds from sale of land } & \underline { 425,000 } \
\hline \text { Net cash used by investing activities } & \underline { \$ ( 282,000 ) } \
\hline
\end{array}$$ 
Underhill Corporation's income statement for 2009 includes the following items:
$$\begin{array} { | l | l | } 
\hline \text { Loss on sale of marketable securities } & \$ 157,000 \
\hline \text { Gain on sales of land } & \$ 179,000 \
\hline
\end{array}$$ 
(a) All payments and proceeds relating to these transactions were in cash. Using this information, compute the following:

Quizplus · Accepted Answer

The Answer of Comparison of cash flows and accrual basis
Underhill Corporation's statement of cash flows for 2009 shows the following information regarding investing activities:
$$\begin{array} { | l | l | } 
\hline \text { Purchases of marketable securities } & \$ ( 1,518,000 ) \
\hline \text { Proceeds from sale of marketable securities } & 811,000 \
\hline \text { Proceeds from sale of land } & \underline { 425,000 } \
\hline \text { Net cash used by investing activities } & \underline { \$ ( 282,000 ) } \
\hline
\end{array}$$ 
Underhill Corporation's income statement for 2009 includes the following items:
$$\begin{array} { | l | l | } 
\hline \text { Loss on sale of marketable securities } & \$ 157,000 \
\hline \text { Gain on sales of land } & \$ 179,000 \
\hline
\end{array}$$ 
(a) All payments and proceeds relating to these transactions were in cash. Using this information, compute the following:

Comparison of Cash Flows and Accrual Basis Underhill Corporation's Statement

Comparison of Cash Flows and Accrual Basis
Underhill Corporation's Statement