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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 Cash
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 Cash Credit $ 256, 300 11,277,200 Payments for inventory 3,947,020 Payments for wages 4,172,564 Payments for rent 1, 330, 710 Payments for interest 2,898, 240 Payments fon taxes 4,883, 028 Payments for machinery Payments for stock investments Payments for long-term notes payable Payments for dividends Payments for treasury stock $ ? $ 2,988,458 1,037,502 597,692 405,979 845,790 4, 206,396 4,251, 504 721,741 936,008 405,979 Balance, December 31, current year THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net increase decrease) in cash Beginning balance of cash Ending balance of cash (2) Refer to the statement of cash flows for part 1 to answer the following questions a through c. a. () 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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