Question: J ! 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

J ! 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 $163,000 33,000 Accounts Receivable 93,000 Cash (balance on September 1, 2020) Cash (balance on August 31, 2021) Common Stock 120,000 100,000 Dividends 10,000 Equipment 773,000 Notes Payable 48,000 Office Expense 185,000 Prepaid Rent 79,000 428,000 1,045,000 Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue 188,000 1,988,000 Supplies 50,000 Utilities Expense 620,000 Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment $ 53,000 62,000 Cash paid to suppliers and employees 1,542,000 Repayments of borrowings 173,000 Cash received from customers 1,751,000 Cash received from borrowings Dividends paid in cash 10,000 10,000 PB1-3 (Algo) Part 4 4. Prepare a statement of cash flows for the fiscal year ended August 31, 2021. (Cash outflows should be entered as negative amounts.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
