Cash Balance, Dec. 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing 333,000 5,000,000 Payments for inventory 208,400 Payments for wages 220,000 Payments for rent 710,000 Payments for interest . 1,540,000 Payments for taxes.. 3,600,000 Payments for machinery. 2,590,000 550,000 320,000 218,000 450,000 2,236,000 1,260,000 386,000 ........ Payments for stock investments Payments for note payable. Payments for dividends. Payments for treasury stock. 500,000 218,000 Balance, Dec. 31, current year .........
Cash Balance, Dec. 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing 333,000 5,000,000 Payments for inventory 208,400 Payments for wages 220,000 Payments for rent 710,000 Payments for interest . 1,540,000 Payments for taxes.. 3,600,000 Payments for machinery. 2,590,000 550,000 320,000 218,000 450,000 2,236,000 1,260,000 386,000 ........ Payments for stock investments Payments for note payable. Payments for dividends. Payments for treasury stock. 500,000 218,000 Balance, Dec. 31, current year .........
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following Cash T-account shows the total debits and total credits to the Cash account of Thomas
Corporation for the current year.
1. Prepare a complete statement of
2. Refer to the statement of cash flows prepared for part 1 to answer the following questions. (a) Which
section—operating, investing, or financing—shows the largest cash (i) inflow and (ii) outflow?
(b) What is the largest individual item among the investing
larger from issuing notes or issuing stock? (d) Does the company have a net
from borrowing activities?
![Cash
Balance, Dec. 31, prior year
Receipts from customers
Receipts from dividends
Receipts from land sale
Receipts from machinery sale
Receipts from issuing stock
Receipts from borrowing
333,000
5,000,000 Payments for inventory
208,400 Payments for wages
220,000 Payments for rent
710,000 Payments for interest .
1,540,000 Payments for taxes..
3,600,000 Payments for machinery.
2,590,000
550,000
320,000
218,000
450,000
2,236,000
1,260,000
386,000
........
Payments for stock investments
Payments for note payable.
Payments for dividends.
Payments for treasury stock.
500,000
218,000
Balance, Dec. 31, current year
.........](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9f557adb-a889-4c20-a255-a6ebce7a1b10%2F5edfdaa7-f76b-44df-8eb2-77720268a7e0%2Fmouel3f.jpeg&w=3840&q=75)
Transcribed Image Text:Cash
Balance, Dec. 31, prior year
Receipts from customers
Receipts from dividends
Receipts from land sale
Receipts from machinery sale
Receipts from issuing stock
Receipts from borrowing
333,000
5,000,000 Payments for inventory
208,400 Payments for wages
220,000 Payments for rent
710,000 Payments for interest .
1,540,000 Payments for taxes..
3,600,000 Payments for machinery.
2,590,000
550,000
320,000
218,000
450,000
2,236,000
1,260,000
386,000
........
Payments for stock investments
Payments for note payable.
Payments for dividends.
Payments for treasury stock.
500,000
218,000
Balance, Dec. 31, current year
.........
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