Sunland Corporation reported the following information (in thousands) at December 31, 2021: 2021 2020 Long-term investments...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sunland Corporation reported the following information (in thousands) at December 31, 2021: 2021 2020 Long-term investments $180 $80 Land 270 270 Buildings 380 380 Accumulated depreciation-buildings 100 70 Equipment 500 360 Accumulated depreciation-equipment 300 300 Additional information: 1. The company purchased long-term investments during the year; none were sold. 2. The company purchased equipment during the year and sold some equipment that cost $170 and had a carrying amount of $60 for a gain of $25. Prepare the investing activities section of Sunland's statement of cash flows for the year. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) SUNLAND CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Investing activities Purchase of equipment eTextbook and Media $ $ Sunland Corporation reported the following information (in thousands) at December 31, 2021: 2021 2020 Long-term investments $180 $80 Land 270 270 Buildings 380 380 Accumulated depreciation-buildings 100 70 Equipment 500 360 Accumulated depreciation-equipment 300 300 Additional information: 1. The company purchased long-term investments during the year; none were sold. 2. The company purchased equipment during the year and sold some equipment that cost $170 and had a carrying amount of $60 for a gain of $25. Prepare the investing activities section of Sunland's statement of cash flows for the year. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) SUNLAND CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Investing activities Purchase of equipment eTextbook and Media $ $
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Assume the following for the Howard Saks firm: Actual earnings of $28,000, beginning book value of $250,000, ending book value of $350,000, cost of capital of 6%. What are their abnormal earnings?
-
What is target costing, and how is it useful in assessing a product's total life cycle cost?
-
LRNA Company issued $380,000, 7%, 10-year bonds on January 1, 2017, for $407,968. This price resulted in an effective-interest rate of 6% on the bonds. Interest is payable annually on January 1. LRNA...
-
Gemini manufactures athletic shoes. The company records manufacturing costs by job number and uses a factory overhead applied rate to charge overhead costs to its products. The company estimates...
-
Equity Lighting Corp. wishes to explore the effect on its cost of capital of the rate at which the company pays taxes. The firm wishes to maintain a capital structure of 30% debt, 10% preferred...
-
A diagnostic test is used by a clinic to determine whether or not a person has a certain disease. If the test is positive (T) the person is assumed to have the disease, while if the test is negative...
-
For each of the following lists of scores, indicate whether the value of SS will be negative, 0, between 0 and +15, or greater than +15. (You do not need to actually calculate SS.) o Sample A: X =...
-
Find the consumers' surplus at a price level of p = $7 for the price-demand equation p=D(x)=25-0.4x.
-
(A) Briefly describe (i) the monetary, or asset market approach to exchange rate determination and (ii) the Keynesian trade flow model of exchange rate determination. What are key differences between...
-
Explainn briefly the following Questions. in ur own words 1. Is safer to invest in stocks than bonds? Why or why not? 2. What is the difference between investing and gambling? 3. Askk yourself, if it...
-
a.GenTech Ltd needs to save $50 million to expand its production lines in six years' time. There are three investment options to consider: ABC bank: monthly payments due at the end of each month.The...
-
Identify and describe at least Ten (10) Business and Professional Services and Seven (7) Not for profit Service providers within Zambia for which their products would be considered Services
-
1. In what ways could the adoption of the third side assist us in handling conflict within our own organizations? 2. Share about a conflict or difference of opinion you experienced with someone no...
-
Consider the sections of two circuits illustrated above. Select True or False for all statements.After connecting a and b to a battery, the voltage across R1 always equals the voltage across R2.Rcd...
-
An increase in the demand for land will _________ the quantity supplied and _________ the price of land.
-
The supply of land is perfectly _________.
-
_________ is the price paid for land or any other factor that has a fixed supply.
Study smarter with the SolutionInn App