The Garcia Corporation Provided the Following Partial List of Accounts

question 43

Essay

The Garcia Corporation provided the following partial list of accounts, balances and activities for 2013: Garcia's income statement reported a $16,000 gain on sale of land that occurred when land that had cost $32,000 was sold for $48,000. The company also recorded a $20,000 loss on the sale of marketable securities. No additional marketable securities were purchased during the year. The company also sold equipment originally costing $12,000 with accumulated depreciation of $8,000 for $7,200. Purchases of additional land and equipment were cash transactions.
Required:
Prepare the investing activities section of the statement of cash flows.

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Definitions:

Pectoralis Major

A large muscle in the upper chest that aids in the movement of the shoulder joint, including flexion, rotation, and adduction of the arm.

Coracobrachialis

A muscle in the shoulder that assists in flexing and adducting the arm.

Tuberosity

A large rounded projection on a bone, often serving as an attachment point for muscles and ligaments.

Brachioradialis

A muscle of the forearm that flexes the forearm at the elbow, especially when the forearm is in a position midway between pronation and supination.