Income tax was $175,000 for the year. Income tax payable was $30,000 and $40,000 at the beginning and end of the year. Cash payments for income tax reported on the cash flow statement using the direct method is
A) $175,000
B) $165,000
C) $205,000
D) $215,000
Correct Answer:
Verified
Q85: Equipment with an original cost of $75,000
Q99: The following information is available from the
Q102: A corporation uses the indirect method for
Q103: On the statement of cash flows, the
Q105: Rogers Company reported net income of $35,000
Q106: The net income reported on the income
Q108: The cost of merchandise sold during the
Q108: Sales for the year were $600,000. Accounts
Q109: Baxter Company reported a net loss of
Q120: In calculating cash flows from operating activities
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents