Please answer both questions. A company reported annual income tax expense of $170,000 in...

60.1K

Verified Solution

Question

Accounting

Please answer both questions.image

A company reported annual income tax expense of $170,000 in 2016. During the year, income tax payable increased from a $12,400 beginning balance to a $17,600 ending balance How much is cash paid for income taxes during the year? A $175.200 O B. $164,800 C.$187,600 D. $169.200 UESTION 25 A company reported annual sales revenue of $1,690,000 in 2016. During the year accounts receivable increased from a $28,000 beginning balance to a $38,000 ending balance. Accounts payable decreased from a $26,000 beginning balance to a $12,000 ending balance How much is cash received from customers for the year? O A $1,728,000 B. $1,700,000 $1.680.000 D. $1,694,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students