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Required information: The following summarized Cash T-account reflects the total debits and total credits to the Cash account of Thomas Corporation for calendar-year 2017. (1)
Required information: The following summarized Cash T-account reflects the total debits and total credits to the Cash account of Thomas Corporation for calendar-year 2017.
(1) Use this information to prepare a complete statement of cash flows for year 2017. The cash provided or used by operating activities should be reported using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
Cash Balance, Dec. 31, 2016 Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stochk Receipts from borrowing $116,000 1,352,560 469,568 270,512 183,744 382,800 1,903,792 1,924,208 326,656 423,632 183,744 5,104,000 Payments for inventory 1,786,400 Payments for wages 1,888, 480 Payments for rent 602,272 Payments for interest 1,311,728 Payments for taxes 2,210,032 Payments for machinery Payments for long-term investments Payments for note payable Payments for dividends Payments for treasury stock Balance, Dec. 31, 2017
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