Below are accounting items taken from the records of Paul Company for 2015. Use US GAAP to
Fantastic news! We've Found the answer you've been seeking!
Question:
Below are accounting items taken from the records of Paul Company for 2015. Use US GAAP to prepare only the operating activities section of Paul Company’s 2015 statement of cash flows using the indirect method (not all the items belong in the operating activities section).
Payment of dividends | $4000 | Net income | $40,000 |
Increase in accounts payable | $19,000 | Payment for purchase of land and buildings | $60,000 |
Increase in account receivable | $15,000 | Issuance of ten-year notes payable | $50,000 |
Decrease in inventories | $14,000 | Depreciation expense | $10,000 |
Decrease in salaries payable | $6,000 | Loss on sale of delivery vehicle | $1,000 |
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date: