CrossCanada Transport Inc. (CC) provides warehouse and distribution services. The excerpts that follow are adapted from CC's financial statements for fiscal year 2014.

Requirements
1. How much was CC's cost of property and equipment at October 31, 2014? How much was the carrying amount of premises and equipment? Show computations.
2. The financial statements give three pieces of evidence that CC purchased premises and equipment during 2014. What are they?
3. Prepare T-accounts for Premises and Equipment and Accumulated Depreciation. Then show all the activity in these accounts during 2014. Did CC dispose of any assets and, if so, what was the carrying amount?
4. Why has goodwill not been amortized?

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(amounts in thousands) Balance Sheet Assets Total current assets Premises and equipment Less Accumulated depreciation Goodwill October 31 2014 2013 $237,936 5,941 (3,810) 4,752 $208,530 5,246 (3,428) 4,304 For the Year Ended October 31 Statement of Cash Flows (in millions) 2014 2013 from operating activit Net income from continuing operations $5,492 $4,757 Noncash items affecting net income: Cash used in investing activities: Cash used in acquisitions (including $41 of premises and 434 405 (511) (256) Acquisition of premises and equipment (706) equipment) (373)