Holmes Corporation reported the following information (in thousands) at December 31, 2012: 2012 2011 Long-term investments..........................$ 150............$

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Holmes Corporation reported the following information (in thousands) at December 31, 2012:
2012 2011
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: 978-1118024492

5th Canadian edition

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

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