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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Required information
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
CHEESE FACTORY INCORPORATED
Statement of Cash Flows
$
$
0
0
0
![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
$148,000
Accounts Receivable
18,000
78,000
Cash (balance on September 1, 2020)
Cash (balance on August 31, 2021)
Common Stock
Dividends
86,000
100,000
13,000
Equipment
758,000
Notes Payable
33,000
Office Expense
110,000
Prepaid Rent
53,000
413,000
Retained Earnings (beginning)
Salaries and Wages Expense
Salaries and Wages Payable
Sales Revenue
970,000
173,000
1,717,000
Supplies
Utilities Expense
31,000
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 i
$ 34,000
43,000
1,496,000
158,000
1,676,000
8,000
13,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F944491d8-1185-4705-9528-e30f8e14915d%2F28baaf2c-c741-4bad-9fa2-3bab9b15b656%2Fww0hpyr_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
$148,000
Accounts Receivable
18,000
78,000
Cash (balance on September 1, 2020)
Cash (balance on August 31, 2021)
Common Stock
Dividends
86,000
100,000
13,000
Equipment
758,000
Notes Payable
33,000
Office Expense
110,000
Prepaid Rent
53,000
413,000
Retained Earnings (beginning)
Salaries and Wages Expense
Salaries and Wages Payable
Sales Revenue
970,000
173,000
1,717,000
Supplies
Utilities Expense
31,000
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 i
$ 34,000
43,000
1,496,000
158,000
1,676,000
8,000
13,000
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