Required information [The following information applies to the questions display

Question

Required information [The following information applies to the questions displayed below.j The following summarized Cash T-account reflects the total debits and total credits to the Cash account of Thomas Corporation for calendar-year 2017. Cash Balance, Dec. 31, 2016 Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowin $ 121,200 1,413,192 490,618 282,638 191,981 399,960 1,989,134 2,010,466 341,299 442,622 191,981 5, 332,800 Payments for inventory 1, 866,480 Payments for wages 1,973,136 Payments for rent 629,270 Payments for interest 1,370,530 Payments for taxes 2,309,102 Payments for machinery Payments for long-term investments Payments for note payable Payments for dividends Payments for treasury stock Balance, Dec. 31, 2017

Explanation / Answer

Cash flow Statement: Cash flows from Operating activities: Cash receipts from customer 5332800 Payment of inventory -1413192 Paymnt of wages -490618 Payment of rent -282638 Payment of interest -191981 Payment for taxes -399960 Net cash provided from operating activities 2554411 Cash flows from Investing activities: Sale of land 1973136 Sale of machinery 629270 Purchase of machinery -1989134 Purchase of investment -2010466 Net casj used in investing activities -1397194 Cash flows from Financing activities: Issue of stock 1370530 Receipts from borrowing 2309102 Payment of note payable -341299 Dividend paud -442622 Treasury stock purchase -191981 Net cash provided from financing activities 2703730 Net increase in cash 3860947 Add: beginning balance of cash 121200 Ending balance of cash 3982147

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