Assume that Income Tax Expense was $250,000, and that Income Taxes payable decreased by $14,000 and...

Assume that Income Tax Expense was $250,000, and that Income Taxes payable decreased by $14,000 and Deferred Tax Liability increased by $29,000. What amount of cash was paid for Income Taxes?

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Expert Solution


Income tax expenses				250000
Less: increase in deferred tax liability				-29000
Add: Decrease in Tax payable				14000

Taxes paid				235000

Answer is $ 235000

ekkarill92 answered 2 years ago

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