Question
[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
[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 Investment securities. Equipment Buildings Land Year 2 $ 36,300 Year 1 $ 26,600 232,000 212,500 852,000 81,000 949,000 67,000 Additional information regarding transactions occurring during Year 2: 1. Investment securities that had cost $6,130 were sold. The Year 2 income statement contained a loss on the sale of Investment securities of $430. 2. Equipment with a cost of $52,000 was purchased. 3. The income statement showed a gain on the sale of equipment of $7,500. On the date of sale, accumulated depreciation on the equipment sold amounted to $6,800. 4. A building that had originally cost $164.000 was demolished. 5. Land that had cost $25,100 was sold for $21,200. e. Determine the amount of cash flow for the purchase of buildings during Year 2. Answer is complete but not entirely correct. Cash flow for the purchase of buildings 272,000
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