During 20x2, Union Chemical Company had operating expenses of (1,900,000) and income taxes Operating Expenses and expense

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During 20x2, Union Chemical Company had operating expenses of \(1,900,000\) and income taxes Operating Expenses and expense of 200,000 . Depreciation expense of 410,000 for \(20 \times 2\) was included in operating expenses. Income Taxes The ending balance of Prepaid Expenses was 90,000 in 20x1 and 130,000 in 20x2. The ending balance of Accrued Liabilities (excluding Income Taxes Payable) was 50,000 in 20x1 and 30,000 in 20x2 The ending balance of Income Taxes Payable was 60,000 in \(20 \times 1\) and 70,000 in 20x2. Calculate cash payments for operating expenses and income taxes in \(20 \times 2\).

LO 4 Cash Flows from Operating

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Financial Accounting A Global Approach

ISBN: 9780395839867

1st Edition

Authors: Sidney J. Gray, Belverd E. Needles

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