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Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable $164,000 Accounts Receivable 34,000 Cash (balance on September
Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021.
Accounts Payable | $164,000 |
---|---|
Accounts Receivable | 34,000 |
Cash (balance on September 1, 2020) | 94,000 |
Cash (balance on August 31, 2021) | 119,000 |
Common Stock | 100,000 |
Dividends | 11,000 |
Equipment | 774,000 |
Notes Payable | 49,000 |
Office Expense | 190,000 |
Prepaid Rent | 81,000 |
Retained Earnings (beginning) | 429,000 |
Salaries and Wages Expense | 1,050,000 |
Salaries and Wages Payable | 189,000 |
Sales Revenue | 2,004,000 |
Supplies | 51,000 |
Utilities Expense | 625,000 |
Other cash flow information: | |
---|---|
Additional investments by stockholders | $ 55,000 |
Cash paid to purchase equipment | 63,000 |
Cash paid to suppliers and employees | 1,544,000 |
Repayments of borrowings | 174,000 |
Cash received from customers | 1,756,000 |
Cash received from borrowings | 6,000 |
Dividends paid in cash | 11,000 |
Prepare a statement of cash flows for the fiscal year ended August 31, 2021. (Cash outflows should be entered as negative amounts.)
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