Q11-59. Income Tax Payable was $5,500 at the end of the year and $4,000 at the beginning.

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Income tax expense for the year totaled $60,500. What amount of cash did the company pay for income tax during the year?

a. $60,500

c. $64,500

b. $62,000

d. $59,000 ________________________________________

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Financial Accounting International Financial Reporting Standards Global Edition

ISBN: 9781292211145

11th Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

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Question Posted: Jul 28, 2024 03:01 AM

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Q11-59. Income Tax Payable was $5,500 at the end of the year and $4,000 at the beginning.

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Financial Accounting International Financial Reporting Standards Global Edition

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