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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. Cash Debit Credit Balance, December 31, prior year $ 244,200 Receipts from customers Receipts from dividends 10,744,800 Payments for inventory 3,760,680 Payments for wages $ 2,847,372 988,522 Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing 3,975,576 Payments for rent 1,267,886 Payments for interest. 2,761,414 Payments for taxes 4,652,498 Payments for machinery 569,474 386,813 805,860 4,007,810 Payments for stock investments Payments for long-term notes payable Payments for dividends Payments for treasury stock 4,050,790 687,667 891,818 386,813 Balance, December 31, current year $ ? (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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