Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [The following information applies to the questions displayed below.] Cheese Factory Incorporated reported the following information for the fiscal year ended August

image text in transcribed

Required information [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 Accounts Receivable $153,000 23,000 Cash (balance on September 1, 2020) 83,000 Cash (balance on August 31, 2021) 93,000 Common Stock 100,000 Dividends 12,000 763,000 Equipment Notes Payable Office Expense 38,000 135,000 Prepaid Rent 59,000 Retained Earnings (beginning) 418,000 Salaries and Wages Expense 995,000 178,000 1,803,000 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 40,000 570,000 $ 44,000 52,000 1,514,000 163,000 1,701,000 6,000 12,000 4. Prepare a statement of cash flows for the fiscal year ended August 31, 2021. (Cash outflows should be entered as negative amounts.)

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_2

Step: 3

blur-text-image_3

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

Governmental and Nonprofit Accounting

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

10th edition

132751267, 978-0132751261

More Books

Students also viewed these Accounting questions

Question

Did the researcher do a dependability audit?

Answered: 1 week ago