Question
Income tax was $371,269 for the year. Income tax payable was $25,076 and $41,129 at the beginning and end of the year, respectively. Cash payments
Income tax was $371,269 for the year. Income tax payable was $25,076 and $41,129 at the beginning and end of the year, respectively. Cash payments for income tax reported on the statement of cash flows using the direct method is
a.$371,269
b.$387,322
c.$355,216
d.$437,474
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Governmental Accounting
Authors: Steven M. Bragg
2022nd Edition
1642210781, 978-1642210781
