Question

Paul’s Painters, a service organization, prepared the following special report for the month of January 2015:
Required:
1. The owner (who knows little about the financial part of the business) asked you to compute the amount by which cash had increased in January 2015 from the operations of the company. You decided to prepare a detailed report for the owner with the following major captions: cash inflows (collections), cash outflows (payments), and the difference— net increase (or decrease) in cash.
2. Reconcile the difference— net increase (or decrease) in cash— you computed in (1) with the net earnings for January 2015 by filling in the following chart:


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  • CreatedAugust 04, 2015
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