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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. Paul Company Statement of Cash Flows (Partial) For Year Ended December 31, 2020 Operating Activities:     $fill in the blank 2 Adjustments for differences between net income and cash flows from operating activities:     fill in the blank 4   fill in the blank 6   fill in the blank 8   fill in the blank 10   fill in the blank 12 Net cash provided by operating activities $fill in the blank 13

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. Paul Company Statement of Cash Flows (Partial) For Year Ended December 31, 2020 Operating Activities:     $fill in the blank 2 Adjustments for differences between net income and cash flows from operating activities:     fill in the blank 4   fill in the blank 6   fill in the blank 8   fill in the blank 10   fill in the blank 12 Net cash provided by operating activities $fill in the blank 13

FINANCIAL ACCOUNTING
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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  1. 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.

    Paul Company
    Statement of Cash Flows (Partial)
    For Year Ended December 31, 2020
    Operating Activities:  
      $fill in the blank 2
    Adjustments for differences between net income and cash flows from operating activities:  
      fill in the blank 4
      fill in the blank 6
      fill in the blank 8
      fill in the blank 10
      fill in the blank 12
    Net cash provided by operating activities $fill in the blank 13
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