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Required Information [The following information applies to the questions displayed below) The following information was drawn from the year-end balance sheets of Mass Trading Company
Required Information [The following information applies to the questions displayed below) The following information was drawn from the year-end balance sheets of Mass Trading Company Account Title Year 2 Year 1 Investment Securities $ 35,000 $ 26,500 Equipment 217,00 210,000 Building 145,500 961, Land 98,500 57. Additional information regarding transactions occurring during Year 2 1. Investment securities that had cost $6,090 were sold The Year 2 income statement contained a loss on the sale of investment securities of $420 2. Equipement with a cost of $45,000 was purchased 3. The income statement showed again on the sale of equipment of $4300. On the date of sale, accumulated depreciation on the equipment sold amounted to $6,00 4. A building that had originally cost $177,000 was demolished 5. Land that had cost $25,100 was sold for $21000 e. Det mine the amount of cash flow for the purchase of buildings during Year 2
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