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The following information was drawn from the year-end balance sheets of Mass Trading Company: Account Title Investment securities Equipment Buildings Land Year 2 $ 36,
The following information was drawn from the year-end balance sheets of Mass Trading Company: Account Title Investment securities Equipment Buildings Land Year 2 $ 36, 200 233,000 864,500 98,500 Year 1 $ 27,700 213,000 947,000 56,000 Additional information regarding transactions occurring during Year 2: 1. Investment securities that had cost $5,230 were sold. The Year 2 income statement contained a loss on the sale of investment securities of $460. 2. Equipment with a cost of $43,500 was purchased. 3. The income statement showed a gain on the sale of equipment of $6,200. On the date of sale, accumulated depreciation on the equipment sold amounted to $10,000. 4. A building that had originally cost $159,500 was demolished. 5. Land that had cost $25,900 was sold for $21,400. . Determine the amount of cash flow for the purchase of buildings during Year 2. Cash flow for the purchase of buildings Determine the amount of cash flow for the purchase of land during Year 2. Cash flow for the purchase of land - Prepare the investing activities section of the Year 2 statement of cash flows. (Amounts to be deducted should be indic minus sign.) MASS TRADING COMPANY Statement of Cash Flows (Investing Activities) For the Year Ended December 31, Year 2 Cash flows from investing activities: 0 Net cash flow from investing activities
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