Determine the amount of cash paid for income taxes in each of the nine independent situations below.

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Determine the amount of cash paid for income taxes in each of the nine independent situations below. All dollars are in millions.

Income Tax Income Tax Payable Increase (Decrease) Deferred Tax Liability Increase (Decrease) Cash Paid Situation Expense for Taxes 1 10 ? 2 10 3 ? 10 (3) ? 4 10 2 ? 10 (2) ? 10 3 2 ? 7 10 3 (2) (2) ? 8 10 (3) (3) ?

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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Question Posted: May 15, 2020 10:59 AM

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Determine the amount of cash paid for income taxes in each of the nine independent situations below.

Question:

Income Tax Income Tax Payable Increase (Decrease) Deferred Tax Liability Increase (Decrease) Cash Paid Situation Expense for Taxes 1 10 ? 2 10 3 ? 10 (3) ? 4 10 2 ? 10 (2) ? 10 3 2 ? 7 10 3 (2) (2) ? 8 10 (3) (3) ? 10 2 ?

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Intermediate Accounting

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