Kinsey Corporation reported income taxes of $360,000,000 on its 2014 income statement, income taxes payable of $277,000,000 at December 31, 2013, and $525,000,000 at December 31, 2014. What amount of cash payments were made for income taxes during 2014?

Chapter 13, Brief Exercises #14

Kinsey reported income taxes of $360,000,000 on its 2014 income statement, income taxes payable of $277,000,000 at December 31, 2013, and $525,000,000 at December 31, 2014. What amount of cash payments were made for income taxes during 2014?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...