Computing Cash Flows
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 | 125,000 |
Credit entries | (140,000) |
Balance, Dec. 31 | $ 275,000 |
In addition, the company’s income statement includes a $25,000 loss on sales of marketable securities. None of the company’s marketable securities is considered a cash equivalent.
Compute the amounts that should appear in the statement of cash flows as:
a. Purchases of marketable securities.
b. Proceeds from sales of marketable securities.
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