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On its income statement, Columbia Sportswear Company reports Income tax expense of 7 4 , 7 9 2 . However, companies often actually pay a
On its income statement, Columbia Sportswear Company reports Income tax expense of
However, companies often actually pay a different amount for taxes than is
reported. Sometimes there are differences between accounting income determined
using GAAP and taxable income, which is determined using tax rules. Sometimes there
are differences in the timing of recognition of revenues and expenses. Either of these
can lead to a company's reporting one amount as tax expense and actually paying a
different amount.
Using information provided at the bottom of the Statement of Cash Flows, how much
did Columbia Sportswear Company actually pay. in cash for income taxes in
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