Blossom Corporation reported the following information (in thousands) at Decembe

Question

Blossom Corporation reported the following information (in thousands) at December 31, 2018 Long-term investments Land Buildings Accumulated depreciation-buildings Equipment 2018 2017 $180 $110 230 230 360 360 50 500 350 Accumulated depreciation-equipment 300 300 90 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 $190 and a carrying amount of $75 was sold at a gain of $30 Prepare the investing activities section of Blossom's statement of cash flows for the year. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g (15,000).) BLOSSOM CORPORATION Statement of Cash Flows (Partial) ($ in thousands) Year Ended December 31, 2018 Investing activities Purchase of equipment Net cash used by investing activities

Explanation / Answer

Schedule of Investing activities

1.Purchase of Longterm Investment ($70)
2.Sale of Equipment $105
3.Purchase of Equipment
(500-(350-190) ($340)

Net cash flow (305)

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