Oo.25.Subject :- Account [The following information applies to the questions displayed below.]Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of itsstatement of cash flows. Its balance sheet for this year is as follows:Cash & cash equivalentsAccounts receivableInventoryTotal current assetsProperty, plant, and equipmentLess accumulated depreciationNet property, plant, and equipmentTotal assetsAccounts payableIncome taxes payableBonds payableCommon stockRetained earningsTotal liabilities and stockholders' equityEndingBalance$ 89,00071,50096,000256,500255,00085,000170,000$426,500S46Req 8A$ 56,00043,500105,000122,50099,500$426,500Req 88During the year, Ravenna paid a $10,500 cash dividend and it sold a piece of equipment for $5,250 that hadoriginally cost $12,000 and had accumulated depreciation of $8,000. The company did not retire any bonds orrepurchase any of its own common stock during the year.Complete this question by entering your answers in the tabs below.(Req BA⠀⠀⠀BeginningBalance$ 106,75077,00087,500During the year, Ravenna paid a $10,500 cash dividend and it sold a piece of equipment for $5,250 that hadoriginally cost $12,000 and had accumulated depreciation of $8,000. The company did not retire any bonds orrepurchase any of its own common stock during the year.271,250245,00061,250183,750$ 455,0008-a. If the company debited income tax expense and credited income taxes payable $1,300 during the year, what is the total amount ofthe debits recorded in the Income Taxes Payable account?8-b. What does the amount of these debits represent?$ 99,50057,00087,500105,000106,000$ 455,000Req 8B >Next >If the company debited income tax expense and credited income taxes payable $1,300 during the year, what is the totalamount of the debits recorded in the Income Taxes Payable account?Total amount of debits recorded

The cash flow statement assesses a corporation's ability to handle its cash balance, or how…

8-a. If the company debited income tax expense and credited income taxes payable $1,300 during the year, what is the total ar the debits recorded in the Income Taxes Payable account? 8-b. What does the amount of these debits represent? Complete this question by entering your answers in the tabs below. Req SA Req 88 If the company debited income tax expense and credited income taxes payable $1,300 during the year, what is the total amount of the debits recorded in the Income Taxes Payable account? Total amount of debits recorded Reg BA Req 88 >