Question
An analysis of the Marketable Securities control account of Fancher Products, Inc., shows the following entries during the year. Balance, Jan. 1 $ 280,000 Debit
An analysis of the Marketable Securities control account of Fancher Products, Inc., shows the following entries during the year.
|
|
|
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Balance, Jan. 1 | $ | 280,000 |
|
Debit entries |
| 290,000 |
|
Credit entries |
| (150,000 | ) |
Balance, Dec. 31 | $ | 420,000 |
|
In addition, the companys income statement includes a $35,000 loss on sales of marketable securities. None of the companys marketable securities is considered a cash equivalent.
Compute the amounts that should appear in the statement of cash flows as:
Purchase of marketable securities ______
Proceeds from sales of marketable securities _______
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