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Long-term investments Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Additional information: 1. 2 2024 2023 $200 $95 230 330 90 540 200 230 330 65 395 200 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 $110 and had a carrying amount of $60 for a gain of $15. 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 e.g.-15,000 or in parenthesis e.g. (15,000)) BLOSSOM CORPORATION

Long-term investments Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Additional information: 1. 2 2024 2023 $200 $95 230 330 90 540 200 230 330 65 395 200 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 $110 and had a carrying amount of $60 for a gain of $15. 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 e.g.-15,000 or in parenthesis e.g. (15,000)) BLOSSOM CORPORATION

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Blossom Corporation reported the following information (in thousands) at December 31, 2024: Long-term investments Land Additional information: Buildings Accumulated depreciation-buildings Equipment 540 Accumulated depreciation-equipment 200 1. 2 Cash Flows from Investing Activities Purchase of Long-term Investments 2024 Purchase of Equipment $200 230 Disposal of Equipment 330 Net Cash Used by Investing Activities 90 2023 $95 230 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 $110 and had a carrying amount of $60 for a gain of $15. 330 Prepare the investing activities section of Blossom's statement of cash flows for the year. (Show amounts that decrease cash flow with either a sign e.g.-15,000 or in parenthesis e.g. (15,000).) 65 395 200 BLOSSOM CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Year Ended December 31, 2024
Transcribed Image Text:Blossom Corporation reported the following information (in thousands) at December 31, 2024: Long-term investments Land Additional information: Buildings Accumulated depreciation-buildings Equipment 540 Accumulated depreciation-equipment 200 1. 2 Cash Flows from Investing Activities Purchase of Long-term Investments 2024 Purchase of Equipment $200 230 Disposal of Equipment 330 Net Cash Used by Investing Activities 90 2023 $95 230 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 $110 and had a carrying amount of $60 for a gain of $15. 330 Prepare the investing activities section of Blossom's statement of cash flows for the year. (Show amounts that decrease cash flow with either a sign e.g.-15,000 or in parenthesis e.g. (15,000).) 65 395 200 BLOSSOM CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Year Ended December 31, 2024
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