The information is taken from the records of Paul Company for 2020: 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 14,000 Net income 20,000 Payment for purchase of land and buildings 60,000 Issuance of ten-year bonds payable at par 50,000 Depreciation expense 10,000 Required: Prepare the cash flows from operating activities section of Paul Company's 2020 statement of cash flows using the indirect method. Enter amounts that represent cash outflows as negative numbers.

The information is taken from the records of Paul Company for 2020: 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 14,000 Net income 20,000 Payment for purchase of land and buildings 60,000 Issuance of ten-year bonds payable at par 50,000 Depreciation expense 10,000 Required: Prepare the cash flows from operating activities section of Paul Company's 2020 statement of cash flows using the indirect method. Enter amounts that represent cash outflows as negative numbers.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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