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Required Information [The following Information applies to the questions displayed below.] The following Cash T-account shows the total debits and total credits to the
Required Information [The following Information applies to the questions displayed below.] The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. Debit Balance, December 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing Balance, December 31, current year Cash $ 454,100 19,980,400 Payments for inventory 6,993,148 Payments for wages 7,392,748 Payments for rent 2,357,687 Payments for interest 5,134,963 Payments for taxes 8,651,513 Payments for machinery Credit $ 5,294,806 1,838,197 1,058,961 719,294 1,498,530 7,452,689 Payments for stock investments Payments for long-term notes payable Payments for dividends Payments for treasury stock 7,532,611 1,278,746 1,658,373 719,294 $ ? (2) Refer to the statement of cash flows for part 1 to answer the following questions a through d. a. (i) Which section shows the largest cash inflow? a. (ii) Which section shows the largest cash outflow? b. What is the largest individual item among the investing cash outflows? c. The cash proceeds are larger from: d. From borrowing activities the company has:
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