Oakes Corporation reported income taxes of $370,000,000 on its 2010 income statement and income taxes payable of

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Oakes Corporation reported income taxes of $370,000,000 on its 2010 income statement and income taxes payable of $277,000,000 at December 31, 2009, and $522,000,000 at December 31, 2010. What amount of cash payments were made for income taxes during 2010?


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...
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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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