The Cheesecake Factory Incorporated reported the following information for the 2006 fiscal year ended January 2, 2007.
Question:
Other information
Additional investments by owners .............................. $ 33,555
Cash paid to purchase equipment ................................. 243,211
Cash paid to suppliers and employees ......................... 1,123,353
Repayments of borrowings ........................................ 170,242
Cash received from customers .................................. 1,276,008
Cash received from borrowings ................................... 175,000
Cash received from sale of long-term assets ..................... 115,975
Withdrawals (payments to owners) ................................. 49,994
Required:
Prepare the four basic financial statements for the 2006 fiscal year:
a. Income statement.
b. Statement of owners' equity.
c. Balance sheet.
d. Statement of cash flows.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
Principles Of Accounting
ISBN: 9780077300456
1st Edition
Authors: Robert Libby, Patricia Libby, Fred Phillips, Stacey Whitecotton