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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 $157,000 Accounts Receivable 27,000 Cash (balance on September 1, 2020) 87,000 Cash (balance on August 31, 2021) 96,000 Common Stock 100,000 10,000 767,000 42,000 155,000 67,000 Dividends Equipment Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable. 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 422,000 1,015,000 182,000 1,868,000 44,000 590,000 $ 41,000 56,000 1,530,000 167,000 1,721,000 10,000 10,000
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