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I need your help with this please! 300 Chapter 5 De APPLY YOUR KNOWLEDGE C5- v in the restaurant und Lyo Serial Case are unc
I need your help with this please!
300 Chapter 5 De APPLY YOUR KNOWLEDGE C5- v in the restaurant und Lyo Serial Case are unc LO 4 C5-74. (Learning Obiective 4: Analyze accounts receivable for a company in there din every chapter in this industry) bakeries in the United Note: This case is part of The Cheesecake Factory serial case contained in every chan textbook The Cheesecake Factory Incorporated (NASDAQ: CAKE) operates two bakeries in the States where it makes over 70 desserts for its own restaurants. In addition, the Cheesecake Factory bakeries sell selected desserts to a variety of foodservice operators and retailers. including Sam's Club, Walmart, Target, BJ's Wholesale Club, and Barnes & Noble The Cheesecake Factory has accounts receivable on its financial statements. The primary som of its accounts receivable is its sales to bakery customers. Requirements 1. Identify the financial statement where The Cheesecake Factory accounts receivable would be found. What is the balance of The Cheesecake Factory's accounts receivable as of January 3, 2017? Did its accounts receivable balance increase or decrease since its 2015 fiscal year? 2. Assume that BJ's Wholesale Club places an order with The Cheesecake Factory bakery for 1,000 Cheesecake Factory Original Cheesecakes on account (FOB shipping point) for a total cost of $7.500. No discount was offered for early payment. Write the journal entry, if any, which would be made on each of the following dates by The Cheesecake Factory (ignore the cost of sales journal entry here): a. Order date b. Shipment date c. Payment date 3. How will The Cheesecake Factory's assets, liabilities, and equity be impacted on each of the previous dates related to BJ's Wholesale Club order? To follow all year ending January 3, 2017 The Cheesecake Factory Incorporated Consolidated Statement of Income (Adapted for Educational Use) For Year Ended January 3, 2017 (in thousands) Revenues $ 2.275,719 Costs and expenses Cost of sales 526,628 Labor expenses 759.998 Depreciation and amortization expense 88,010 Other expenses 700,090 Total costs and expenses 2,074,726 Income from operations 200,993 Interest and other expense, net (9,225) Income before income taxes 191,768 Income tax expense 52,274 Net income 139,494 $ Note: Information presented here should not be used for investment decisions. Data from the U.S. Securities and Exchange Commission EDGAR Company Filings, www.sec.gov The Cheesecake Factory Incorporated Statement of Retained Earnings (Adapted for Educational Use) For Year Ended January 3, 2017 (in thousands) $ Retained earnings balance, 12/29/2015 Add: Net income Less: Dividends declared Retained earnings balance, 1/3/2017 1,140,788 139,494 (42.270) 1,238,012 $ Note: Information presented here should not be used for investment decisions. arom the U.S. Securities and Exchange Commission EDGAR Company Filings, www.sec.gov Chapter The Cheesecake Factory Incorporated Consolidated Sheet Adapted for Educational As any 2017 992 Income tax receivable 910.134 Tell mentes Inta pent Total other assets $ 1.293.119 Liabilities and Stockholders' Equity Other accrued expenses Tecal current bites Nincent abilities Stockholder's equity Preferred toch Con stock Andro i d-in capital Retained earnings Treasury stock Total stockholder's equity Totallibilities and stockholder's equity $ Nate information presented here should be ased for investment decisions 1 28.02 603.207 1.29319 DUS S C EGAR Fix . The Cheesecake Factory incorporated Statement of Cash Flows (Adapted for tucational Use For Year Ended January 1, 2017 in thousands Cashflows provided by operating activities Cash flows used in investing activities Cashflows used by Mancing activities Netthange in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 302 520 (159.461) (133.014) 9,085 43.854 51119 Mate Information presented here should not be used for investment deckans and Eschung C D GAR www Cheesecake Factory's complete, unabridged financial statements can be found on its invester relations website
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