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Question(s) / Instruction(s):



Chapter 21 Question 4:


Determine the amount of cash paid for income taxes in each of the nine independent situations below. All dollars are in millions. (Enter your answers in millions. Omit the "$"sign in your response.)

 

Situation

Income Tax
Expense

Income Tax
Payable
Increase (Decrease)

Deferred Tax
Liability
Increase (Decrease)

Cash Paid
for Taxes

1

10

0                

0              

   

2

10

3                

0              

   

3

10

(3)               

0              

   

4

10

0                

2              

   

5

10

0                

(2)             

   

6

10

3                

2              

   

7

10

3                

(2)             

   

8

10

(3)               

(2)             

   

9

10

(3)               

2              

   



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