Use the information below to answer the question. Proceeds from the sale of mark

Question

Use the information below to answer the question. Proceeds from the sale of marketable securities $160,000 Purchase of land (250,000) Proceeds from the sale of land 125,000 Net cash provided by investing activities $35,000 Lester’s income statement for 2009 includes the following: Loss on the sale of marketable securities $47,000 Gain on the disposal of land 65,000 Lester’s balance sheet at the end of 2013 showed investment in marketable securities at $250,000. On the basis of the data presented above, compute the amount to be reported for investment in marketable securities in Lester Corporation’s balance sheet at December 31, 2014. $43,000 $110,000 $137,000 $253,000

Explanation / Answer

Answer is $ 43000 Explanation: Balance in the beginning of marketable securities 250000 Less: Book value of Securities sold Sale price of securities 160000 Add: Loss on sale of securities 47000 207000 Book value at the end of year in Marketable sec. 43000

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