The following are accounting items taken from the records of Paul Company for 2015: Payment of...
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The following are accounting items taken from the records of Paul Company for 2015: Payment of dividends $ 4,000 Increase in accounts payable $15,000 Increase in accounts receivable $19,000 Decrease in inventories $6,000 Decrease in salaries payable S14,000 Net income $20,000 S60,000 Payment for purchase of land and buildings $50,000 Issuance of ten-year bonds payable at par S10,000 Depreciation expense Required: Prepare the net cash flow from operating activities section of Paul Company's 2015 statement of cash flows using the indirect method. The following are accounting items taken from the records of Paul Company for 2015: Payment of dividends $ 4,000 Increase in accounts payable $15,000 Increase in accounts receivable $19,000 Decrease in inventories $6,000 Decrease in salaries payable S14,000 Net income $20,000 S60,000 Payment for purchase of land and buildings $50,000 Issuance of ten-year bonds payable at par S10,000 Depreciation expense Required: Prepare the net cash flow from operating activities section of Paul Company's 2015 statement of cash flows using the indirect method.
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STATEMENT OF CASH FLOWS Cash flows from operating activities Net income 20000 Adjustm... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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