Solution-What is amount of cash paid for income taxes

What is amount of cash paid for income taxes during the year

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Question - In its first year of operations, Pikes Corp. reported Income Tax Expense of $41,000 and Income Tax Payable of $13,000. At the end of the year, Pikes reported a current Deferred Tax Asset of $14,000 and a noncurrent Deferred Tax Liability of $5,000. What is the amount of cash paid for income taxes during the year?

$37,000

$33,000

$19,000

$9,000

Reference no: EM131737263

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What is amount of cash paid for income taxes during the year

Reference no: EM131737263

Reference no: EM131737263

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