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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
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 Cash (balance on September 1, 2020) 78,000 Cash (balance on August 31, 2021) 86,000 Common Stock 100,000 Dividends Equipment Notes Payable 13,000 Office Expense 758,000 33,000 110,000 Prepaid Rent 53,000 Retained Earnings (beginning) 413,000 Salaries and Wages Expense 970,000 Salaries and Wages Payable 173,000 1,717,000 31,000 Sales Revenue Supplies Utilities Expense 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. 545,000 $ 34,000 43,000 1,496,000 158,000 1,676,000 8,000 13,000
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