Digital Core Inc. reported income tax expense of $180,000 for the year. The income taxes payable at the beginning of the year was $42,000, and at the end of the year was $50,000. What is the cash paid for income taxes during the year?

Digital Core Inc. reported income tax expense of $180,000 for the year. The income taxes payable at the beginning of the year was $42,000, and at the end of the year was $50,000. What is the cash paid for income taxes during the year?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 16GI: Indicate how a company computes the amount of interest and income taxes that it paid during the...

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Please explain the solution to this financial accounting problem with accurate principles.

Digital Core Inc. reported income tax expense of
$180,000 for the year. The income taxes payable at the
beginning of the year was $42,000, and at the end of
the year was $50,000.
What is the cash paid for income taxes during the
year?

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