Use the following information to calculate cash paid for income taxes:
A) $50,000.
B) $59,000.
C) $57,000.
D) $48,000.
E) $52,000.

Name: Use the following information to calculate cash paid for income taxes: A) $50,000. B) $59,000. C) $57,000. D) $48,000. E) $52,000.
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Question

Use the following information to calculate cash paid for income taxes: 
A) $50,000. 
B) $59,000. 
C) $57,000. 
D) $48,000. 
E) $52,000.

Quizplus · Accepted Answer

Decrease in Income Taxes Payable = $9,000 − $7,000 = $2,000
Cash paid for Income Taxes = $50,000 +$2,000 = $52,000
Reconstructed entry:
 11eaadfd_cc32_4888_95d8_cfc5b3fdcf21_TB6948_00

Use the Following Information to Calculate Cash Paid for Income