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[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
[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: Account Title Year 2 Investment securities. Machinery Land Year 1 $101,800 $ 116,900 520,300 145,800 425,000 93,800 Other information drawn from the accounting records: 1. Delsey incurred a $1,340 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $5,000 (cost of $25,530 minus accumulated depreciation of $20,530) was sold. The income statement showed a gain on the sale of machinery of $4,880. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part a Required a. Compute the amount of cash flow associated with the sale of investment securities. Amount of cash flow J
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