Required information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable $148,000 18,000 78,000 Cash (balance on September 1, 2020) Cash (balance on August 31, 2021) Common Stock 86,000 100,000 Dividends 13,000 Equipment 758,000 Notes Payable 33,000 Office Expense 110,000 Prepaid Rent 53,000 413,000 970,000 Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue 173,000 1,717,000 Supplies 31,000 Utilities Expense 545,000 Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash $ 34,000 43,000 1,496,000 158,000 1,676,000 8,000 13,000
Required information Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable $148,000 18,000 78,000 Cash (balance on September 1, 2020) Cash (balance on August 31, 2021) Common Stock 86,000 100,000 Dividends 13,000 Equipment 758,000 Notes Payable 33,000 Office Expense 110,000 Prepaid Rent 53,000 413,000 970,000 Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue 173,000 1,717,000 Supplies 31,000 Utilities Expense 545,000 Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash $ 34,000 43,000 1,496,000 158,000 1,676,000 8,000 13,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 16CE
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