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Computer World reports income tax expense of $210,000. Income taxes payable at the beginning and...

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Accounting

Computer World reports income tax expense of $210,000. Income taxes payable at the beginning and end of the year are $53,500 and $62,000, respectively. What is the cash paid for income taxes during the year? (List cash outflows and any decrease in cash as negative amounts.) Answer is complete but not entirely correct. Increase in income taxes payable Income tax expense 00 $ (53,500) 210,000 Cash paid for income taxes $ 201,500 Computer World reports income tax expense of $210,000. Income taxes payable at the beginning and end of the year are $53,500 and $62,000, respectively. What is the cash paid for income taxes during the year? (List cash outflows and any decrease in cash as negative amounts.) Increase in income taxes payable (53.500) 210.000 Decrease in income taxes payable 201,500 Income tax expense Increase in income taxes payable

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