Question: pls help Check Required information Exercise 16-22B (Algo) Direct: Preparing statement of cash flows from Cash T-account LO P1, P3, P5 [The following information applies

pls help
pls help Check Required information Exercise 16-22B (Algo) Direct: Preparing statement of
cash flows from Cash T-account LO P1, P3, P5 [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

Check Required information Exercise 16-22B (Algo) Direct: Preparing statement of cash flows from Cash T-account LO P1, P3, P5 [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 $ 357.000 15,705,000 Payments for inventory 3,497.000 Paynents for wages 5.911,960 Payments for rent 1.853,540 Payments for interest 4,036,956 Payments for taxes 6,301,564 Payments for machinery Payments for stock investments Paynents for long-tern notes payable Payment for dividende Payment for treasuryok $4,162,620 1,445,136 032,524 565, 480 1,170,100 5,059,004 5.921,916 1,005,312 1,303,764 565.488 Balance, December 31, current year Exercise 16-22B (Algo) Part 1 (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 (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.) 12 THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities 0 Cash flows from investing activities Cash flows from financing activities 1 of 2 $ 0 Cash flows from investing activities Book Hint 0 Print Cash flows from financing activities + 0 $ 0 Net increase (decrease) in cash Beginning balance of cash Ending balance of cash $ 0 Exercise 16-22B (Algo) Part 2 (2) Refer to the statement of cash flows for part 1 to answer the following questions a through d. a. () Which section shows the largest cash inflow? a. (W) Which section shows the largest cash outfiow? 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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!