Holmes Corporation reported the following information (in thousands) at December 31, 2015: _________________________________________ 2015 _______________ 2014 Long-term

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Holmes Corporation reported the following information (in thousands) at December 31, 2015:

_________________________________________ 2015 _______________ 2014

Long-term investments ............................$150 .......................$100

Land ............................................................... 200 ........................200

Buildings ........................................................300 ........................300

Accumulated depreciation-buildings ..........90 ..........................75

Equipment ......................................................500 ........................400

Accumulated depreciation-equipment .......200 ........................200

Additional information:

1. Long-term investments were purchased during the year; none were sold.

2. Equipment was purchased during the year. In addition, equipment with a cost of $100 and a carrying amount of $50 was sold at a gain of $10.

Prepare the investing activities section of Holmes's statement of cash flows for the year?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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