Determine the amount of cash paid for income taxes in each of the nine independent situations below. All dollars are in millions. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Deferred Tax Liability Increase (Decrease) Cash Paid for Taxes Situation Income Tax Expense Income Tax Payable Increase (Decrease) 1 19 0 2 19 1.8 3 19 (1.8) 4 19 0 0 0 2.9 5 19 0 (2.9) 6 19 1.8 2.9 7 19 1.8 (2.9) 00 8 19 (1.8) 9 19 (1.8) (2.9) 2.9

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Determine the amount of cash paid for income taxes in each of the nine independent situations below. All dollars are in millions.
Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).
Deferred Tax Liability
Increase (Decrease)
Cash Paid for
Taxes
Situation
Income Tax
Expense
Income Tax Payable
Increase (Decrease)
1
19
0
2
19
1.8
3
19
(1.8)
4
19
0
0
0
2.9
5
19
0
(2.9)
6
19
1.8
2.9
7
19
1.8
(2.9)
00
8
19
(1.8)
9
19
(1.8)
(2.9)
2.9
Transcribed Image Text:Determine the amount of cash paid for income taxes in each of the nine independent situations below. All dollars are in millions. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). Deferred Tax Liability Increase (Decrease) Cash Paid for Taxes Situation Income Tax Expense Income Tax Payable Increase (Decrease) 1 19 0 2 19 1.8 3 19 (1.8) 4 19 0 0 0 2.9 5 19 0 (2.9) 6 19 1.8 2.9 7 19 1.8 (2.9) 00 8 19 (1.8) 9 19 (1.8) (2.9) 2.9
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