During 2011, Damon Company had the following transactions 1 Purchased $200,000 of 10 year bonds issued by Gallant, Inc 2 Purchased common stock in Morceau Company, as a long term investment, for $60,000 3 Acquired land valued at $200,000 in exchange for one of Damons warehouses 4 Sold equipment wit...

Investing Activities Cash payments fo ...

During 2011, Damon Company had the following transactions: 1. Purchased $200,000 of 10-year bonds issued by Gallant,

Question:

During 2011, Damon Company had the following transactions:
1. Purchased $200,000 of 10-year bonds issued by Gallant, Inc
2. Purchased in Morceau Company, as a long-term investment, for $60,000.
3. Acquired land valued at $200,000 in exchange for one of Damon’s warehouses.
4. Sold equipment with original cost of $70,000 for $35,000; accumulated depreciation on the equipment sold was $40,000.
5. Purchased new equipment for $60,000.

Required
Prepare the investing section of the statement of cash flows.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...