Required information [The following information applies to the questions displayed below.] The following accounts and...
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Accounting
Required information [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Other information drawn from the accounting records: 1. Delsey incurred a $1,490 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $4,330 (cost of $25,220 minus accumulated depreciation of $20,890 ) was sold. The income statement showed a gain on the sale of machinery of $4,640. 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. Note: Amounts to be deducted should be indicated with a minus sign
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