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Determine the amount of cash paid for income taxes in each of the nine independent situations below. All dollars are in millions. (Enter your answers
Determine the amount of cash paid for income taxes in each of the nine independent situations below. All dollars are in millions. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
Situation Income Tax Expense Income Tax Payable Increase (Decrease) Deferred Tax Liability Increase (Decrease) Cash Paid for Taxes 1 0 30 30 2 2.9 0 3 (2.9) 0 30 30 4 0 4.0 (4.0) 5 0 30 30 6 2.9 4.0 7 30 30 2.9 (2.9) (4.0) (4.0) 8 30 (2.9)Step by Step Solution
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