Question
In 2018, Kahoka Company paid $10,000 to satisfy its 2017 tax liability, $64,000 for its 2018 tax liability, and still owed taxes payable of $16,000
In 2018, Kahoka Company paid $10,000 to satisfy its 2017 tax liability, $64,000 for its 2018 tax liability, and still owed taxes payable of $16,000 at year-end. How much should Kahoka report as a cash outflow for tax payments on the 2018 statement of cash flows?
a. $74,000
b. $90,000
c. $54,000
d. $80,000
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Option A 74000 Workings Tax payment is part of operating ...
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
