Question
Income tax expense was $374,354 for the year. Income taxes payable was $31,466 and $43,428 at the beginning and end of the year, respectively. Cash
Income tax expense was $374,354 for the year. Income taxes payable was $31,466 and $43,428 at the beginning and end of the year, respectively. Cash payments for income taxes reported on the statement of cash flows using the direct method are
a.$449,248
b.$362,392
c.$386,316
d.$374,354
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Financial Management For Public Health And Not For Profit Organizations
Authors: Steven A. Finkler
3rd Edition
0136070736, 978-0136070733
