Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable Cash (balance on September 1, 2020)

image text in transcribed

image text in transcribed

Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable Cash (balance on September 1, 2020) Cash (balance on August 31, 2021) Common Stock Dividends Equipment Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Supplies Utilities Expense $160,000 30,000 90,000 102,000 100,000 13,000 770,000 45,000 170,000 73,000 425,000 1,030,000 185,000 1,925,000 47,000 605,000 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 $ 47,000 59,000 1,536,000 170,000 1,736,000 7,000 13,000 4. Prepare a statement of cash flows for the fiscal year ended August 31, 2021. (Cash outflows should be entered as negative amounts.) CHEESE FACTORY INCORPORATED Statement of Cash Flows Cash Flows from Operating Activities $ 0 Cash Flows from Investing Activities 0 Cash Flows from Financing Activities 0 $ 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Reporting In A Competitive Economy (RLE Accounting)

Authors: Herman W. Bevis

1st Edition

1138966819, 9781138966819

More Books

Students also viewed these Accounting questions

Question

Identify the purpose of OSHA.

Answered: 1 week ago

Question

finding entry-level positions;

Answered: 1 week ago