Chapter 14, Problem 9F15

To determine

Income tax Payables: In the balance sheet of the company, income tax payables are mentioned in the current liabilities section. All the taxes which the business needs to pay within one year to the government are called income tax payables.

Cash Flow Statement: The statement which summarizes the net amount of cash disbursed and received with regards to a particular activity is called cash flow statement.

Determine the amount and direction of Income Tax payables adjustment to the net income in the operating activities of the cash flow statement