Cullumber Corporation reported the following information (in thousands) at December 31, 2021: Long-term investments Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Additional information: 1. 2 2021 $200 240 300 120 570 200 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 $40 for a gain of $10, Investing activities 2020 $70 240 300 65 Prepare the investing activities section of Cullumber's statement of cash flows for the year. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000).) D 350 200 Prepare the investing activities section of Cullumber's statement of cash flows for the year. (Show amounts that decrease cash f with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) $ CULLUMBER CORPORATION Statement of Cash Flows (Partial) ($ in thousands) $

Cullumber Corporation reported the following information (in thousands) at December 31, 2021: Long-term investments Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Additional information: 1. 2 2021 $200 240 300 120 570 200 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 $40 for a gain of $10, Investing activities 2020 $70 240 300 65 Prepare the investing activities section of Cullumber's statement of cash flows for the year. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000).) D 350 200 Prepare the investing activities section of Cullumber's statement of cash flows for the year. (Show amounts that decrease cash f with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) $ CULLUMBER CORPORATION Statement of Cash Flows (Partial) ($ in thousands) $

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.3AIC: Estimate the average total estimated useful life of depreciable property, plant, and equipment....

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