Use the Following Information to Calculate Cash Paid for Income

question 11

Multiple Choice

Use the following information to calculate cash paid for income taxes:
$$\begin{array}{l}\text { Income tax expense } \$ 50,000\\\begin{array}{|l|l|}\hline \text { Income tax payable, January 1 } & 9,000 \\\hline \text { Income tax payable, December 31 } & 7,000\end{array}\end{array}$$

• A) $50,000.
• B) $59,000.
• C) $57,000.
• D) $48,000.
• E) $52,000.

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Definitions:

Radius

The distance from the center of a circle to any point on its circumference, or a straight line extending from the center to the circumference.

Distance

The measurement of space between two points, which can be quantified in units like meters, miles, or light-years, depending on the context.

Specific Gravity

A measurement of the density of a substance compared to water. Specific gravity tests are performed on battery acid and coolant.

Model Year

The year assigned to a vehicle by its manufacturer indicating the marketing period it was made for, which may not necessarily coincide with the year it was manufactured.