At the beginning of 2010, Pablo owed $1,800 of taxes payable. Pablo's 2010 tax expense was $17,300 and the 2010 year-end balance in Income Taxes Payable was $300. How much did Pablo pay in income taxes during 2010?

Question

Quizplus · Accepted Answer

Pablo's beginning balance of taxes payable was $1,800. During 2010, he incurred a tax expense of $17,300, making the total amount owed $19,100 ($1,800 + $17,300). At the end of 2010, the balance in taxes payable was $300, indicating he paid $18,800 ($19,100 - $300) during the year.

At the Beginning of 2010, Pablo Owed $1,800 of Taxes