Lester Corporation’s statement of cash flows for 2014 shows the following investing activities:
$\begin{array}{ll}
\text { Proceeds from sale of equity securities. } & \$ 160,000 \
\text { Purchase of land } & (250,000) \
\text { Proceeds from sale of land } & 125,000 \
\text { Net cash from investing activities}&15,000\\
\text { Lester's income statement for 2014 includes the following:}\\
\text { Loss on sale of equity securities}&\$47,000\
\text { Gain on disposal of land}&65,000
\end{array}$
-The cost (book value) of the equity securities sold during 2014 was:

Question

Lester Corporation’s statement of cash flows for 2014 shows the following investing activities:
$\begin{array}{ll}
 \text { Proceeds from sale of equity securities. } & \$ 160,000 \
\text { Purchase of land } & (250,000) \
 \text { Proceeds from sale of land } & 125,000 \
 \text { Net cash from investing activities}&15,000\\
 \text { Lester's income statement for 2014 includes the following:}\\
 \text { Loss on sale of equity securities}&\$47,000\
 \text { Gain on disposal of land}&65,000 
\end{array}$
-The cost (book value) of the equity securities sold during 2014 was:

Quizplus · Accepted Answer

The proceeds from the sale of equity securities were $160,000, and there was a loss of $47,000 on the sale. Therefore, the book value of the securities sold was $160,000 + $47,000 = $207,000.

Lester Corporation’s Statement of Cash Flows for 2014 Shows the Following