Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Your answer is partially correct Blossom Corporation reported the following information (in thousands) at December 31, 2021: 2021 2020 Long-term investments $200 $75 Land 240
Your answer is partially correct Blossom Corporation reported the following information (in thousands) at December 31, 2021: 2021 2020 Long-term investments $200 $75 Land 240 240 Buildings 320 320 120 55 Accumulated depreciation-buildings Equipment 570 315 Accumulated depreciation equipment 200 200 Additional information Additional information 1 The company purchased long-term investments during the year none were sold. The company purchased equipment during the year and sold some equipment that cost $100 and had a carrying amount of $80 for a gain of $20 Prepare the investing activities section of Blossom's statement of cash flows for the year. (Show amounts that decrease cash flow with either a - signes -15,000 or in parenthesis es (15,000)) BLOSSOM CORPORATION Statement of Cash Flows (Partial) in thousands) Investing activities Purchase of long-term investments 125000 = 173 Prepare the investing activities section of Blossom's statement of cash flows for the year. (Show amounts that decrease cash flow with either a sign 6.8. 15,000 or in parenthesis eg. (15,000)) BLOSSOM CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Investing activities Purchase of long-term Investments 125000 Disposal of equipment 100000 Purchase of equipment 355000 330000 Net cash urovided by financine activities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started