Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. an analysis of the marketable securities control a

An analysis of the Marketable Securities control account of Fancher Products, Inc., shows the following...

80.2K

Verified Solution

Question

Accounting

An analysis of the Marketable Securities control account of Fancher Products, Inc., shows the following entries during the year. Balance, Jan. 1 $ 290,000 Debit entries 250,000 Credit entries (120,000 ) 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:

a. Purchases of marketable securites?

b. Proceeds from sales of marketable securities?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

Solve for x Round to the nearest tenth if necessary E 50 99 D X...

Statistics
1.2K views

Advertisers contract with Internet service providers and search engines to place ads on websites. They pay...

Medical Sciences
1.2K views

Match the following answers to the corresponding question concerning respiratory chemistry. define hemoglobin saturation what part of the...

Advance Math
1.2K views

Eight students (Anna, Brian, Carol, ...) are to be seated around a circular table with eight...

Geometry
1.2K views

There are 13 players on the Volleyball team Six players are actively on the court...

Calculus
1.2K views

f x x 4 x 8x 4 with remainder 2 Then f 4

Algebra
1.2K views

A person accepts a position with a company at a salary of 46 500 for...

Algebra
1.2K views

14 Evaluate Try to do this without a calculator 26

Algebra
1.2K views

3 f x 4x 4 Find f 4 5 w t 3 2t Find w...

Accounting
1.2K views

Paul Inc. had average operating assets of $6,000,000 and sales of $3,000,000 in 2016. If...

Accounting
1.2K views

The entry to record a sale of $1100 with terms of 2/15, n/30 will include...

Accounting
1.2K views

Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total...