Combine 1/3 cup flour, paprika, salt, and pepper in a food storage bag. Put chicken in bag and toss to coat. Whisk together egg and water. Dip coated chicken in egg and water mixture. Combine corn flakes with 1/2 cup flour; roll chicken in the corn flake mixture.
Heat butter in skillet over medium heat; add chicken and brown on all sides. Lower heat, and continue to cook, turning occasionally, for 35 to 40 minutes, or until chicken is tender and juices run clear.
Fried chicken recipe serves 4.