Question

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. $ 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 Cash 182.600 8.034.400 Payments for inventory 2,812.040 Payments for wages 2.972. 728 Payments for rent 948.059 Payments for interest 2.064.841 Payments for taxes 3. 478, 895 Paynents for nachinery Payment for stock investments Payments for note payable Payments for dividends Payments for treasury stock ? 2, 129, 116 739,165 425, 823 289, 238 602,580 2,996.831 3,028, 969 514.202 666,855 289, 238 Balance, Dec. 31, current year $ (1) Prepare a complete statement of cash flows for the current year using the direct method (Amounts to be deducted should be indicated with a minus sign.) THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Cash received from customers $ 8,034,400 Cash received from dividends 2,812,040 Cash paid for inventory (2.129,116)

Answer 1

$ $ $ $ 8,034,400 2,812,040 -2,129,116 -739,165 425,823 -289,238 -602,580 $ $ 6,660,518 THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities: Cash received from customers Cash received from dividends Cash paid for inventory Cash paid for wages Cash paid for rent Cash paid for interest Cash paid for taxes Net cash provided by operating activities Cash flows from investing activities: Cash received from sale of land Cash received from sale of machinery Cash paid for purchase of machinery Cash paid for purchase of stock investments Net cash used by investing activities Cash flows from financing activities: Cash received from issuing stock Cash received from borrowing Cash paid for note payable Cash paid for dividends Cash paid for treasury stock purchases Net cash used by financing activities Net increase (decrease) in cash Beginning balance of cash Ending balance of cash $ $ $ $ 2,972,728 948,059 -2,996,831 -3,028,969 $ -2,105,013 $ $ $ 2,064,841 3,478,895 -514,202 -666,855 -289,238 $ $ $ $ 4,073,441 8,628,946 182,600 8,811,546