Use the following information to calculate cash paid for income taxes: $\begin{array}{l|r}
\text { Income tax expense } & \$ 43,000 \
\hline \text { Income tax payable, January 1 } & 9,100 \
\hline \text { Income tax payable, December 31 } & 10,200
\end{array}$
A)$43,000.
B)$52,100.
C)$23,700.
D)$41,900.
E)$53,200.

Question

Quizplus · Accepted Answer

Cash paid for income taxes is calculated as: Income tax expense + Beginning income tax payable - Ending income tax payable = $43,000 + $9,100 - $10,200 = $41,900.

Use the Following Information to Calculate Cash Paid for Income