A company reported annual income tax expense of $328,000. During the year, income tax payable increased from a $24,800 beginning balance to a $35,200 ending balance.
How much is cash paid for income taxes during the year?

Name: A company reported annual income tax expense of $328,000. During the year, income tax payable increased from a $24,800 beginning balance to a $35,200 ending balance. How much is cash paid for income taxes during the year?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

$328,000 + $24,800 - $35,200 = $317,600

A Company Reported Annual Income Tax Expense of $328,000