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Item8 8points Time Remaining 1 hour 15 minutes 19 seconds 01:15:19 eBook Item8 Item 8 8...

Item8

8points

Time Remaining 1 hour 15 minutes 19 seconds

01:15:19

eBook

Item8

Item 8 8 points

Time Remaining 1 hour 15 minutes 19 seconds

01:15:19

Use the following information to calculate cash paid for income taxes:

Income Tax Expense $ 62,000
Income Tax Payable, January 1 14,800
Income Tax Payable, December 31 17,800

Multiple Choice

  • $76,800.

  • $62,000.

  • $79,800.

  • $59,000.

  • $29,400.

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Answer #1

Cash paid for income taxes

="Beginning income tax payable + Income tax expense - Ending income tax payable

=62,000+14,800-17,800

= 59,000

Option D

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